The Federal Reserve delivered its interest rate decision on Wednesday, Sept. 16, and the market's response in the following session was telling. As stocks pushed higher on Thursday, Sept. 17, all but confirming a post-FOMC bear trap, two AI-related names in particular broke out with real force. They also share a common thread that goes beyond the chart. Both Advanced Micro Devices (NASDAQ: AMD) and Intel (NASDAQ: INTC) are central players in the AI trade, the same trade that wobbled in recent weeks on fresh fears of an AI slowdown. However, these two now look like early leaders as that narrative and the broader technology sector work to regain their footing.
After a stretch of doubt that knocked the wind out of AI-linked names, capital appears to be flowing back in. And it is not simply piling back into NVIDIA (NASDAQ: NVDA). The fact that AMD and Intel have so far led the charge in heavy volume suggests the AI trade may be broadening as it recovers, with investors starting to reward names beyond the obvious winners.
