Ten chip & AI-infrastructure names — six incumbents, four recent IPOs — graded on their most recent earnings prints and their share-price performance from year-end 2025 through today. The boom is real. The leadership has rotated.
Total share-price return, year-end 2025 close to June 24, 2026. The dispersion is the headline: a 252-point spread between Micron and Nvidia inside the same theme.
Three forces defined the half. Read them before the single-name detail.
Nvidia (+6%) and Broadcom (+10%) posted blistering numbers yet badly lagged. Capital chased the higher-beta beneficiaries instead — memory, IP licensing, custom silicon and connectivity — where the re-rating runway looked longer.
Micron nearly quadrupled. An HBM shortage sold out through 2026 handed it pricing power that turned a cyclical into a momentum stock — DRAM revenue up 207% YoY, gross margins guided to ~81%, and a market cap through $1 trillion.
This was not a multiple-only melt-up. Nearly every name beat and raised: Broadcom AI revenue +143%, AMD data center +57%, Astera +93%, Credo +157%. The earnings are validating the prices — for now.
Most recent reported quarter, AI exposure, forward guidance and the risk ledger for each. Filter by cohort.
Every figure on one screen. Prices are split-adjusted closes; returns computed from the December 31 2025 close.
| Company | Cohort | Dec '25 | Jun 24 '26 | 6-mo | Mkt cap | Latest rev | Rev YoY |
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