The Philadelphia Semiconductor Index (SOX) rose 0.5% on Friday, taking the gauge back to levels not seen since September 2000, according to Bloomberg data. Leading the charge has been none other than AMD (AMD - Get Report) and Nvidia (NVDA - Get Report) .
AMD has climbed nearly 20% over the last five sessions. The stock is up over 13% year to date.
A resurgence in Bitcoin and other cryptocurrency use has benefited AMD. An AMD spokesperson this week said that the company is seeing "solid demand for our Polaris-based offerings in the gaming and newly resurgent cryptocurrency markets," helping to spur the rally.
Cryptocurrency miners often build 'mining' computers with graphic processors that then solve complex mathematical equations and other problems online. Users are then awarded online currency for their efforts.
Ethereum cryptocurrency is up over 2,800% year-to-date through Sunday, while Bitcoin is up about 160% this year, according to data from CoinDesk.
Then there is gaming chip maker Nvidia.
Citi placed a Wall Street high price target of $180 on the company Thursday, and also made a bull case of $300. Nvidia shares were down 3.6% to $154.24 on Friday at noon.
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