Alchip Technologies reported record-breaking financial results for 2024, driven by strong demand for their advanced 7nm AI chips, particularly in North America. AI chip applications constituted a substantial portion of their revenue, highlighting the growing reliance on high-performance computing and AI-specific ASICs. The company saw significant increases across all key financial metrics, including revenue, operating income, net income, and earnings per share. Such developments underscore the increasing role advanced technology nodes, like those at 7nm and below, play in meeting the demands of high-performance computing and AI-driven markets.

In other market news, Rockchip Electronics was trading firmly up 5.1% and finishing the session at CN¥173.30. At the same time, Disco trailed, down 8.3% to close at ¥29,915, not far from its 52-week low.

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• NVIDIA ended the day at $109.67 down 1.6%.
• Advanced Micro Devices ended the day at $103.22 down 3.2%.
• Intel finished trading at $22.71 down 3.9%.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Sources:

• Simply Wall St
• "Alchip Technologies Sets 2024 Financial Records" from Alchip Technologies on GlobeNewswire (published 28 March 2025)

Companies discussed in this article include SHSE:603893 NasdaqGS:NVDA NasdaqGS:AMD NasdaqGS:INTC and TSE:6146.

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