# Nvidia Lags Despite Chip Sector Rally > Source: > Published: 2026-06-30 18:47:57+00:00 Editorial analysis: For AI teams and procurement leads, the recent quarter shows a broadening of compute demand beyond accelerators to include CPUs and memory, a shift that changes vendor leverage and component sourcing strategies. **What happened** - CNBC reports the Philadelphia Semiconductor Index (SOX) rose more than **80%** in Q2 as AI-related demand expanded (CNBC). CNBC documents large, sector-leading moves: **Micron** up **239%**, **Lam Research** up **92%**, **AMD** up **165%**, **Arm Holdings** up **125%**, **Texas Instruments** up **47%**, and **Intel** nearly tripled in the period (CNBC). CNBC reports **Nvidia** rose about **12%** in the same quarter, making it the worst-performing stock in the SOX for April-to-June (CNBC). CNBC also reports that commentator Jim Cramer said Nvidia needs to open its checkbook and return more cash to investors (CNBC). Editorial analysis - technical context: The reporting attributes the sector's Q2 breadth to stronger demand for **CPUs** and **memory/storage** alongside GPUs, driven in part by agentic AI workloads that combine accelerators with substantial general-purpose compute. For practitioners, that pattern implies increased total-system demand - not just GPU counts - which affects capacity planning, procurement lead times, and budgeting for DRAM and CPUs. ### What to watch Monitor vendor roadmaps and supply tightness for **memory** and **production equipment**, plus how cloud and hyperscalers allocate spend between GPUs and CPUs. Also watch whether capital-return moves or M&A activity, noted by CNBC via market commentary, alter investor sentiment or capital availability for chipmakers. ## Key Points - 1Sector breadth to CPUs and memory changes procurement priorities for AI teams, increasing attention on DRAM and CPU supply. - 2Large Q2 gains at memory and equipment vendors reflect acute supply-price dynamics that affect total cost of AI deployments. - 3Nvidia's relative underperformance opens market room for CPU and memory incumbents to capture AI-related revenue expansion. ## Scoring Rationale Confirmed by Motley Fool (June 29) and CNBC (May): SOX gained roughly 79-80% in the first half of 2026 while Nvidia underperformed. Useful procurement and market context for AI teams tracking total-system compute costs, but primarily a market-finance story rather than a model, infrastructure, or safety development. Score 5.8. Practice interview problems based on real data 1,625 SQL & Python problems across 15 industry datasets — the exact type of data you work with. [Try 250 free problems](/problems)