Semiconductor shares rose in Tuesday trading. Wolfspeed up 21%; Intel rose 5%; SOXL rose 4%; ON Semiconductor up 3%; AMD, Micron rose 2%; Marvell up 1%; Nvidia up 0.3%.

Intel began laying off employees across the company Monday, notifying workers individually about whether they will keep their jobs.

New CEO Lip-Bu Tan told workers in April to expect major layoffs in the coming months as the chipmaker slashes costs and overhauls its organization after years of technical setbacks and falling sales.