Shares of Intel (NASDAQ: INTC) climbed right from the start on Monday, rising as much as 3.7%. As of 12:41 p.m. ET, the stock was still up 3.5%.

The catalyst that drove the semiconductor company higher were comments by a Wall Street analyst about the state of the chip industry.

News emerged late last week that Nvidia was creating a business segment to design customized processors for cloud computing and artificial intelligence (AI), as first reported by Reuters. This comes in the wake of an "exploding market for custom AI chips," and is seen as a defensive move to maintain its market dominance, according to the report.

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Source Fool.com