Incremental improvements in the state of the economy and a potential groundbreaking collaboration in the chip industry helped spark a broad-based market rally.

Chip designers Nvidia and Broadcom are running manufacturing tests with Intel , two sources familiar with the matter told Reuters, demonstrating early confidence in the struggling company's advanced production techniques.

TSMC has reportedly proposed a joint venture between itself, Nvidia, Advanced Micro Devices (AMD) and Broadcom that will involve them owning stakes and