Chip stocks are poised to set the longest winning streak in history, driven by optimistic sentiment towards AI

The Philadelphia Semiconductor Index rose as much as 1.9% on Wednesday. If the index closes higher, it would mark a 16-day winning streak, setting the longest run of consecutive gains since records began in 1994. During this rally, the index has already climbed 37%, positioning April for its largest monthly gain since February 2000. This surge once again highlights chip stocks leading the broader market. The launch of ChatGPT ushered in the era of modern artificial intelligence, fueling this multi-year trend. Large companies are making massive investments in AI-related infrastructure, further driving chip demand.