Chip Stocks Jump Due to Multiple Positive News

Tiger Newspress
Yesterday

Chip stocks jumped in premarket trading due to multiple positive news. Seagate Technology rose 17%; Intel and Western Digital rose 11%; SanDisk rose 9%; Direxion Daily Semiconductors Bull 3x Shares rose 8%; Microchip Technology rose 7%; Micron rose 5%; VanEck Semiconductor ETF, Marvell Technology, Nvidia, and TSMC rose 2%; AMD rose 1%.

China has given the green light to three of its largest tech companies to buy Nvidia's H200 artificial intelligence chips, four people familiar with the matter told Reuters, marking a shift in position as Beijing seeks to balance its AI needs against spurring domestic development.

ASML reported stronger-than-expected bookings in the fourth quarter on Wednesday, with the world's largest supplier of computer chip equipment receiving more orders as companies boosted investment in AI chipmaking capacity.

Seagate Technology forecast third-quarter revenue and profit above Wall Street expectations on Tuesday, benefiting from strong demand for its data storage devices as enterprises scale up their use of artificial intelligence.

Texas Instruments forecast first-quarter revenue and profit above Wall Street ‌estimates on Tuesday, betting on robust demand for its analog chips from booming AI data center expansions.

Nvidia is reportedly considering outsourcing semiconductor production to Intel in 2028, as well as a partial cooperation between the companies on its next-generation Feynman GPU architecture.

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