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

Taiwan Semiconductor Manufacturing has pitched Nvidia and rival chip designers Advanced Micro Devices and Broadcom the idea of taking stakes in a joint venture to operate Intel’s chip-fabrication operations,

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.