Semiconductor shares gained in morning trading.

Intel stock rose 5.7%; STM, Micron rose over 2%; NXPI, Texas Instruments, Arm Holdings, Qualcomm, Nvidia rose over 1%.

Intel announced a series of moves aimed at shoring up its finances and its technological prowess on Monday, including a deal with Amazon to manufacture a custom artificial intelligence chip for the Seattle-based tech giant.

Described as a "significant expansion" of the working relationship between Amazon and Intel, the two companies unveiled a "multi-year, multi-billion-dollar" framework which will see Intel produce chips for Amazon, starting with a custom artificial intelligence fabric Chip utilizing Intel's 18A foundry process technology.

Intel will also create custom Xeon 6 chips using the Intel 3 node for as part of an existing partnership where Intel produces Xeon Scalable processors for Amazon Web Services.