Semiconductor stocks are powering the U.S. equity market to records and traders are predicting that means a big swing in shares of Intel after earnings tonight.

Semiconductor stocks are powering the U.S. equity market to records and traders are predicting that means a big swing in shares of Intel after earnings tonight.

Intel has been a Wall Street darling of late even as the business has yet to find much momentum.

Yesterday's results announcement signals a return to form for chips player Intel, thanks to the AI boom and strategic agreements with 'partners'.

Intel's strong first-quarter financial results show the semiconductor maker can capitalize on a boom in chipmaking and AI, per two Wall Street shops.

Shares of Intel have more than doubled this year on optimism that backing from the government will help the company's position in AI.