Nvidia vs AMD vs Intel Since 2015: The Semiconductor Reshuffle
NVDA · AMD · INTC · Since 2015 · $1,000 split across each
In 2015, Intel was worth more than Nvidia and AMD combined. AMD was a penny stock, trading under $3 and near bankruptcy concerns. Nvidia was a successful but niche graphics company at around $20 per share (split-adjusted).
A decade later, the order has completely inverted. This is the single most dramatic hierarchy change in large-cap semiconductors, and the chart requires a log scale to show all three lines at once.
What the chart shows
Nvidia is the largest return on this site
Nvidia's 2015 to present return exceeds 100x on a price-only basis. Among liquid US large caps, nothing else comes close over the same window. The AI rally from 2023 onward contributed most of that, but the base return from 2015 to 2022 was already exceptional.
AMD is the turnaround story that actually worked
Lisa Su took over as CEO in 2014 with AMD stock under $3. By 2024 the stock had traded as high as $225, roughly a 75x return. Zen architecture execution is the single most-credited reason.
Intel is the cautionary tale
Intel stock in 2025 trades well below its 2015 level on a price basis. A decade of manufacturing delays, leadership churn, and missed AI opportunities left it as the only name in this comparison with a negative return over the window.
The gap widened in 2023 and 2024
Before 2023, Nvidia was a clear winner but not a runaway one. The generative-AI explosion pulled it from "best of three" to "in a different league." Holders who sold Nvidia in 2021 gave up most of the return.
AMD traded at Nvidia-like multiples briefly
In 2024, AMD's forward P/E briefly exceeded Nvidia's as investors priced in a Nvidia-scale AI data-center opportunity. AMD has since compressed. Whether it can deliver the associated revenue growth is the open question.
Frequently asked questions
Is Nvidia still a buy at current prices?
This is not financial advice. The historical return does not predict the future, and Nvidia's market cap now exceeds $3 trillion, which is a very different starting point than 2015. Use /growth-projector/?t=NVDA to model forward scenarios.
Why did Intel fall so far behind?
Three big factors: manufacturing delays at 10nm and 7nm that let TSMC overtake them, missing the mobile chip wave entirely, and arriving late to AI accelerators. Each of these alone would have hurt, combined they were devastating.
How does AMD compare directly with Nvidia as an AI play?
AMD's MI300 and MI325 GPUs began shipping in volume during 2024. Revenue has grown but remains a fraction of Nvidia's data-center segment. The stock reflects both the AI opportunity and the execution risk.
What about Broadcom and TSMC?
Both are also massive AI beneficiaries and have outperformed Intel significantly. A broader semiconductor matchup is on our content roadmap. For now, /calculator/?t=AVGO and /calculator/?t=TSM will show their paths.
Related matchups
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For informational and educational purposes only. Not financial advice. Past performance does not guarantee future results. All calculations are based on split-adjusted closing prices from Yahoo Finance and do not account for dividends, taxes, or trading fees. See our methodology and full disclaimer.