Intel leads chips higher as CEO Gelsinger meets with China to discuss industry
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Intel (NASDAQ:INTC) led semiconductor stocks higher on Tuesday as the company's CEO met with a Chinese official to discuss the state of the industry.
In a statement, China's Ministry of Commerce said Minister Wang Wentao talked with Intel (INTC) CEO Pat Gelsinger about security and the stability of chip supply. 
In addition, China will continue to open up and the country "will provide new opportunities for the world and a broader market for multinational companies including Intel," a translated version of the statement said.
Separately on Tuesday, investment firm Citi remained cautious on Intel (INTC) shares despite signs that the PC market is "stabilizing."
Analyst Christopher Danely pointed out that March notebook shipments were up 41% month-over-month, well above Citi's expectations due to new product launches and pull-in demand at the end of the quarter.
Intel (INTC) shares rose 0.5%, while competitors AMD (AMD) and Nvidia (NVDA) fell 2.4% and 1.1%, respectively.
Japanese tech conglomerate SoftBank (OTCPK:SFTBY) has reportedly finalized plans for its semiconductor design unit Arm to list on the Nasdaq (NASDAQ:NDAQ) exchange in New York.
The initial public offering, which could raise as much as $8B, is likely to be run by Goldman Sachs, JPMorgan and Mizuho Securities, though other banks could also be included. 
SoftBank (OTCPK:SFTBY) shares were fractionally higher in mid-day trading.
Several other chip stocks saw modest gains in mid-day trading on Tuesday, including Texas Instruments (TXN), Qualcomm (QCOM) and NXP Semiconductors (NXPI).
Others, such as Broadcom (AVGO), Analog Devices (ADI) and Micron Technology (MU) saw fractional losses.
Earlier this month, investment firm Bernstein upgraded Intel (INTC), citing the potential for improvements later in the year.