Shares of chipmakers Nvidia Corp, Qualcomm Inc and Micron Technology Inc got a lift in extended trade after Advanced Micro Devices Inc reported strong quarterly demand for its semiconductors amid global supply snags.

AMD climbed almost 11 percent after it provided an annual revenue estimate that exceeded analysts' expectations, pointing to upcoming PC, gaming and data center components.

Rival graphics chip maker Nvidia jumped over five percent while mobile chipmaker Qualcomm added over two percent and memory chip manufacturer Micron Technology climbed 1.5 percent.

Industry heavyweight Intel Corp, which has lost market share to AMD in recent years as it struggles with next-generation manufacturing technology, declined almost one percent following AMD's report.

According to the reports, after-hours surged in chip stocks is the latest in a stretch of instability in the sector. Growth stocks have suffered broadly from worries about rising interest rates. Investors are also debating when the global chip shortage might ease, and whether companies are in danger of over-investing and getting caught in a downturn.

After a recent drop in cryptocurrencies, prices charged by scalpers on eBay for PC gaming graphics cards made with AMD and Nvidia's chips are showing signs of declining following over a year of empty shelves at retailers, according to Tom's Hardware.

A quarterly report from industry bellwether Microchip Technology Inc late this week may offer more clues about when the global chip shortage might abate.

The Philadelphia Semiconductor Index has surged eight percent in the past three sessions, but it remains down 13 percent from its record-high close in December.