Microchip Technology Shares Rise 10% After AI Coding Assistant Release

Dow Jones

02-20

By Stephen Nakrosis

Shares of Microchip Technology are up on the Nasdaq Wednesday, after the company said it was releasing an AI-powered coding assistant.

In afternoon trading, shares gained 10.3% to $63.87. Volume topped 11.5 million shares, above the stock's 65-day average volume of some 8.8 million shares. The stock is currently up seven consecutive days.

The company said its MPLAB AI Coding Assistant possesses a chat functionality to assist software developers and embedded engineers in writing and debugging code. The product can also deliver block diagrams directly within the VS Code interface rather than just text responses, Microchip Technology said.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

February 19, 2025 14:42 ET (19:42 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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