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You are at:Home » Nvidia, TSMC and other AI chip stocks soar as Foxconn posts record earnings
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Nvidia, TSMC and other AI chip stocks soar as Foxconn posts record earnings

Adnan MaharBy Adnan MaharJanuary 6, 2025No Comments2 Mins Read0 Views
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Chip stocks soared in intraday trading on Monday after Taiwan’s Foxconn posted record fourth-quarter sales, driven by a boom in demand for artificial intelligence (AI). Foxconn (officially known as Honghai Precision Industry) attributed the increase to strong demand from AI servers. Nvidia, AMD, TSMC, and ASML are all up.

Taiwan’s Foxconn, which assembles Apple’s (AAPL) iPhone and Nvidia’s (NVDA) products, posted record fourth-quarter sales on Monday, driven by a boom in demand for artificial intelligence (AI) technology. Chip stocks soared in intraday trading.

Foxconn, officially known as Hon Hai Precision Industry, said on Sunday that fourth-quarter sales rose 15% year-on-year to NT$2.132 trillion ($65.09 billion). Sales in December increased by 42% to NT$654.83 billion.

The company said, “Sales increased significantly year-on-year due to strong demand from AI servers.”

Honghai shares ended up 2% in Taiwan trading.

Nvidia CEO Huang to deliver CES keynote today

Shares of the AI ​​chip company were rising early Monday after Foxconn’s strong financial results.

Nvidia shares rose 4% on Monday ahead of CEO Jensen Huang’s keynote speech at the CES trade show in Las Vegas. Shares of rival Advanced Micro Devices (AMD) rose 2.5%, and shares of Micron Technology (MU) rose 11%.

Additionally, the U.S.-listed shares of Taiwan Semiconductor Manufacturing Co. (TSM) and Dutch semiconductor manufacturing machinery maker ASML Holding Co. (ASML) rose 5% and 6%, respectively.



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Adnan Mahar
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Adnan is a passionate doctor from Pakistan with a keen interest in exploring the world of politics, sports, and international affairs. As an avid reader and lifelong learner, he is deeply committed to sharing insights, perspectives, and thought-provoking ideas. His journey combines a love for knowledge with an analytical approach to current events, aiming to inspire meaningful conversations and broaden understanding across a wide range of topics.

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