With the U.S.-Iran ceasefire agreement extended, Wall Street resumed the AI-driven semiconductor rally.

The Philadelphia Semiconductor Index, as tracked by the iShares PHLX Semiconductor ETF (NASDAQ:SOXX), notched 18 straight sessions of gains, the longest winning streak on record, amid a wave of blowout earnings and analyst upgrades.

Intel Corporation (NASDAQ:INTC) led the charge. Shares surged past levels not seen since August 2000 – at the very peak of the dot-com bubble – after the company delivered blowout first-quarter results. The stock is now up more than 80% this month alone, on pace for the best month in Intel’s history.

Advanced Micro Devices, Inc. (NASDAQ:AMD) jumped 24.6% over the five-day stretch, pushing its month-to-date gain to 70% – the stock’s best month since January 2001.

Texas Instruments Incorporated (NASDAQ:TXN) rallied 20% after its own strong quarterly results, its best week since April 2001.

The common thread: Al infrastructure spending is accelerating, despite the ...