Shares of technology companies rose, recouping some of their recent losses following strong earnings from one major chip maker.
Broadcom shares soared after the maker of chips for artificial-intelligence applications posted quarterly earnings ahead of Wall Street targets, reflecting 77% growth in AI revenue.
Nvidia and other major chip makers rose in a relief rally. The chip sector recouped some of the losses from Thursday's rout, triggered by a revenue shortfall reported by Broadcom rival Marvell Technologies.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
March 07, 2025 17:36 ET (22:36 GMT)
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