Chipmaker stocks surge on Nvidia

Better-than-expected earnings pushed Nvidia shares to a new high, sending AI stocks and other semiconductor chipmakers soaring.

Artificial intelligence stocks and semiconductor chipmakers surged overnight after U.S. chipmaker Nvidia reported earnings that beat Wall Street analysts' expectations and projected "continued growth" into 2025 and beyond. Nvidia shares closed up more than 16%.

Taiwan Semiconductor Manufacturing Company (TSMC) — a supplier to Nvidia — closed up nearly 3%. TSMC is the world's largest contract chipmaker, making processors for companies like Nvidia and Apple.

Shares of server components supplier Super Micro Computer also rose more than 32%. Dutch chipmaker ASML added more than 4% in after-hours trading yesterday.

Following Nvidia's earnings report, rival companies such as Advanced Micro Devices and British chip designer Arm Holdings both surged, up more than 10% and more than 4%, respectively.

Nvidia, which designs custom AI chips for Amazon, Microsoft and Google, has seen demand for its processors soar thanks to the explosion in artificial intelligence (AI).

OpenAI's ChatGPT, which became popular worldwide in late 2022 thanks to its ability to generate human-like responses, was trained and run on thousands of Nvidia GPUs.

Shares of three US chipmakers, Intel, Broadcom and Qualcomm, also attracted investor attention. Broadcom and Qualcomm closed up more than 6% and 1% respectively last night, while Intel rose early but closed down more than 1%.

“Fundamentally, conditions support continued growth momentum” into 2025 and beyond, Nvidia CEO Jensen Huang told analysts on Feb. 21, during an earnings call.

He added that demand for Nvidia GPUs remains high due to Generative AI and the industry's shift from central processing units to Nvidia-made accelerators.

Minh Son ( according to CNBC )

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