For years, Nvidia has been the default way to bet on artificial intelligence. As the finance.yahoo.com report notes, it is the No. 1 designer of AI chips, a position that has driven enormous revenue. But in the first half of 2026, two rivals stole the spotlight.
AMD and Intel both outperformed Nvidia over the first six months of the year, according to reporting from Invezz, NAI500, Yahoo Finance and MSN. In fact, coverage from MSN says these Nvidia rivals "climbed in the triple digits" — a dramatic run for two companies that spent much of the AI boom in Nvidia's shadow.
The momentum around AMD in particular has caught analysts' attention. According to Goldman Sachs, cited by Yahoo Finance, AMD is "gaining ground" on Nvidia. Invezz points to fresh catalysts that could keep AMD's earnings estimates rising even after a cooling spell in the broader semiconductor market, including a price-target increase from Wells Fargo and a design win with Turing.
The open question now is whether the trend holds. Several of the source headlines — from NAI500, MSN and Yahoo Finance — frame the second half as a test: will the story reverse, or will AMD and Intel keep their lead? Invezz flags that risks remain for AMD, a reminder that a strong first half is no guarantee of a strong second.
Why it matters: Nvidia has been treated as the safe, obvious way to invest in AI, so a first half in which AMD and Intel outrun it suggests the market may be starting to spread its bets across more than one chipmaker.