NASDAQ:ARM - Nasdaq - US0420682058 - ADR
Market surges on AI Stargate initiative & strong earnings. S&P 500 hits record high of 6,100 points, led by tech giants & semiconductor stocks.
President Donald Trump's boost to AI demand hopes is outweighing fresh tariff threats on China and the EU, as earnings season rolls on.
Nvidia rival AMD is notably missing from all announcements and blog posts, which leads UBS analysts to believe that at least initially, the Stargate project will rely heavily on Nvidia to provide compute and hardware solutions.
Project Stargate could be just the beginning.
Nvidia stock surged after the chipmaker was named a technology partner for a massive U.S. AI infrastructure project called Stargate.
Nvidia stock jumped Wednesday, extending gains from the prior day following Trump’s announcement of a massive, $500 billion AI infrastructure project called Stargate. The project will be funded by Oracle, OpenAI and SoftBank.
Let's have a look at what is happening on the US markets on Wednesday. Below you can find the gap up and gap down stocks in today's session.
Oracle stock is rallying, along with other AI stocks, following the White House announcement of the Stargate AI infrastructure plan.
While Nvidia and Arm will play a role in designing the computing system, chipmakers like TSMC, Micron, and Intel will likely benefit from the surge in demand for AI chips.
OpenAI, Masayoshi Son-led Japanese investment company SoftBank and AI, and advanced technology investor MGX will be the project's initial equity funders.
Nvidia stock has been trending sideways as investors debate uncertainties ranging from AI chip demand to Trump administration moves.
With some key issues reduced in importance, shares of Qualcomm are gaining steam to have strong performance in the new year.
Documents from the company’s trial against Qualcomm show that Arm anticipates raising royalty rates and developing in-house chips to generate a projected $1 billion in additional annual revenue over the next decade.