Nvidia’s Stock Surge Boosts AI Chip Companies

  • 10 months ago
Nvidia's stock surge led to notable gains for several AI-focused semiconductor companies in Thursday trading. Nvidia shares closed up 24%, nearing a $1 trillion market cap, and AMD also saw an 11% increase in share value. Marvell and Broadcom also saw substantial gains due to their involvement with AI applications in cloud computing. Traditional chip manufacturers saw dips, with Intel dropping by 5.5% and Qualcomm slipping by 1.3% before recovering. This trend suggests a shift away from CPUs and towards GPU manufacturers, which have seen rising demand for AI platforms. Nvidia's CEO, Jensen Huang, further underlined this shift, stating that the future will see fewer CPUs connected to millions of GPUs. Taiwan Semiconductor Manufacturing Company also saw a 12% rise in shares, while the VanEck Semiconductor Index rose by almost 8.6%.

Recommended