By Angus Berwick
Global chip stocks gained ground following AI-boosted earnings from Taiwan's Foxconn, which assembles Nvidia and Apple products.
-- Nvidia and fellow U.S. chip stocks Advanced Micro Devices and Micron Technology all rose around 2% in premarket trading.
-- Shares in Taiwan Semiconductor Manufacturing, the world's largest contract chip maker, gained more than 4% in Asia.
-- South Korean memory-chip maker SK Hynix, which supplies Nvidia, jumped almost 10%.
-- ASML, whose lithography machines power most chip makers, climbed more than 5% in Europe, as did STMicroelectronics.
After helping drive U.S. markets to record highs last year, investors are eager to see if artificial intelligence will continue steering share prices.
Microsoft said last Friday it was on track to invest about $80 billion this year in data centers for AI technology, with more than half of the investment to be in the U.S.
Focus will shift Monday to Nvidia Chief Executive Jensen Huang, who is due to give a keynote speech this evening at CES 2025 in Las Vegas.
Microsoft said last Friday it was on track to invest about $80 billion this year in data centers for AI technology, with more than half of the investment to be in the U.S.
Focus is shifting Monday to Nvidia Chief Executive Jensen Huang, who will give a keynote speech this evening at CES 2025 in Las Vegas.
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(END) Dow Jones Newswires
January 06, 2025 07:16 ET (12:16 GMT)
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