AI Demand Propels Chip Stocks to Record Highs; Marvell (MRVL-US) Raises Forecast, Meta (META-US) Launches Subscription

An AI-fueled rally pushed the Philadelphia Semiconductor Index to an all-time high on May 27, 2026, led by Intel Corp. (INTC-US) and Marvell Technology (MRVL-US). Marvell reported fiscal first-quarter earnings that beat estimates and issued a current-quarter forecast above Wall Street expectations, citing “exceptionally strong” demand for networking and custom AI chips. The company raised its full-year guidance, sending shares up 6% in after-hours trading. Intel advanced as agentic AI—which requires CPUs to autonomously execute tasks—boosted demand for its server processors. The sector’s surge has outpaced the late-1990s internet bubble rally. In a parallel move, Meta Platforms Inc. (META-US) announced the global rollout of paid subscriptions for its AI chatbot across Instagram, Facebook, and WhatsApp, with plans starting at $7.99 a month. The launch signals an effort to monetize heavy AI investments. Separately, JPMorgan Chase & Co. (JPM-US) CEO Jamie Dimon said the bank could pursue a $10 billion to $20 billion acquisition in the coming years amid robust dealmaking activity.