Nvidia (NASDAQ: NVDA) stock jumped 4.9% through noon ET Friday. Strange as it sounds, this was all because of Intel (NASDAQ: INTC)! Intel blew past analyst forecasts for $0.01 in pro forma earnings last night, reporting $0.29 per share instead. Sales of $13.6 billion likewise beat expectations for $12.4 billion.

Shares of Nvidia surged on Friday, putting the stock on track for a record closing high as renewed optimism around artificial intelligence demand rippled across the semiconductor sector. The rally was partly fuelled by strong earnings from Intel,

Mad Money' host Jim Cramer talks Intel hitting an all-time high as investors hope it is positioned to benefit fro CPU chip demand.

Something rare happened on Intel (NASDAQ:INTC)’s earnings call. CEO Lip-Bu Tan effectively told investors that Elon Musk will teach Intel more about running a chip business than Intel will teach Musk.

Intel stock hit new all-time highs for the first time since 2000, surging 85% in 18 months on AI chip demand and its 18A manufacturing breakthrough.

The good news for Nvidia investors is that it continues to grow rapidly even as rivals have been landing lucrative contracts with hyperscalers and AI companies. AI chips from AMD,

Intel reported a big first quarter of revenue led by fresh AI demand for its CPUs. The company also delivered a big forecast for the current quarter.