Chip firms surge on hopes of strong AI-led demand
2 days, 9 hours ago

Chip firms surge on hopes of strong AI-led demand

Live Mint  

By Medha Singh and Purvi Agarwal -Shares of chipmakers jumped on Monday as Microsoft's plan to invest $80 billion in AI-enabled data centers in fiscal 2025 spurred bets that semiconductor demand would remain strong. Micron was the biggest gainer among semiconductor stocks with a 10.6% rise, while chip-making equipment companies like Applied Materials, Lam Research and KLA Corp rose between 5.1% and 5.5%. The tech-heavy Nasdaq led Wall Street's main indexes higher, while semiconductor stocks in Europe and South Korea also surged earlier in the day. "AI data centers are very chip hungry, that's why you have people running towards the chip sector right now," said Michael Matousek, head trader at U.S. Contract manufacturer Foxconn's record revenue for the fourth quarter on the back of strong demand for AI servers also added to the overall euphoria in the chip sector.

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Five semiconductor stocks that could benefit from huge AI chip demand
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Five semiconductor stocks that could benefit from huge AI chip demand

Live Mint  

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Live Mint  

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4 years, 2 months ago

Wall Street update: Stocks jump on prospect of divided US Congress, Dow up by 500 points

Live Mint  

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4 years, 3 months ago

Wall Street update: Dow jumps over 400 pts on stimulus hopes, upbeat data

Live Mint  

Wall Street's main indexes jumped on Wednesday, led by industrials and technology-related stocks, as officials rekindled the idea of an imminent fiscal stimulus package, while upbeat data suggested a domestic economic recovery was on track. All 11 major S&P indexes were up, with energy also among the biggest gainers, as data showed U.S. private employers stepped up hiring in September, …

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