Clicky

  • Login
  • Register
  • Submit Your Content
  • Contact Us
Wednesday, January 8, 2025
World Tribune
No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
Submit
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
No Result
View All Result
World Tribune
No Result
View All Result

Global chip stocks climb on Foxconn results, AI server demand

January 6, 2025
in News
Reading Time: 3 mins read
A A
Global chip stocks climb on Foxconn results, AI server demand
0
SHARES
ShareShareShareShareShare

READ ALSO

Aviation industry to have another hard year led by Boeing delays

OpenAI’s Sam Altman denies sexual abuse allegations made sister, Ann

Jakub Porzyck | Nurphoto | Getty Images

Global semiconductor stocks climbed Monday after contract electronics giant Foxconn announced record fourth-quarter revenue, suggesting the artificial intelligence boom has far more room to run.

Hon Hai Precision Industry, which does business as Foxconn internationally, said in a Sunday statement that the company’s fourth-quarter revenue totaled 2.1 trillion New Taiwan dollars ($63.9 billion), growing 15% year over year.

Foxconn — which is a supplier to Apple — also set a record, posting the highest fourth-quarter revenue ever in company history, according to the statement.

The firm’s bumper revenue performance was driven by growth in its cloud and networking products — which includes AI servers like those designed by the likes of chipmaker Nvidia — and components and other product segments.

Computing products and smart consumer electronics — which numbers iPhone and other smartphones — saw “slight declines,” Foxconn said.

Shares of several semiconductor firms across Asia, Europe and the U.S. rose, as a result.

In Asia, Taiwan Semiconductor Manufacturing Co. hit a record high Monday and closed up 1.9% in Taiwan.

The largest semiconductor manufacturer globally, TSMC produces chips for the likes of Advanced Micro Devices and Nvidia.

Other Asian chip firms also logged share price gains — South Korea’s SK Hynix and Samsung rose nearly 10% and 4%, respectively.

In Europe, global critical semiconductor equipment firm ASML saw its shares jump almost 6%, while fellow Dutch chip company ASMI’s stock rose nearly 5%. Germany’s Infineon surged more than 6%.

Global chip stocks climb on Foxconn results, AI server demand

Paris-listed shares of European contract chipmaker STMicroelectronics rose nearly 6%.

Stateside, Nvidia got a boost from the Foxconn numbers, climbing 2% in U.S. premarket trading.

Also boosting chip stocks on Monday was Microsoft’s announcement at the end of last week about plans to invest $80 billion in 2025 on data centers that can handle AI workloads.

Microsoft is one of several tech giants splurging on GPUs, or graphics processing units, from Nvidia to train and run the most advanced AI models.

AMD, Nvidia’s closest rival, rose 3% in premarket trading Monday, while fellow U.S. chip firms Qualcomm and Broadcom both climbed almost 2%.

Credit: Source link

ShareTweetSendSharePin
Previous Post

Stern’s latest pinball machine is a loving tribute to Dungeons & Dragons

Next Post

European leaders in France, Norway and Germany hit back against Elon Musk in UK political meddling row

Related Posts

Aviation industry to have another hard year led by Boeing delays
News

Aviation industry to have another hard year led by Boeing delays

January 8, 2025
OpenAI’s Sam Altman denies sexual abuse allegations made sister, Ann
News

OpenAI’s Sam Altman denies sexual abuse allegations made sister, Ann

January 8, 2025
Indian stocks will benefit from the Trump 2.0 era, portfolio manager says
News

Indian stocks will benefit from the Trump 2.0 era, portfolio manager says

January 8, 2025
Meta employees criticize company’s new speech policy, board additions
News

Meta employees criticize company’s new speech policy, board additions

January 8, 2025
Bitcoin drops below ,000 as Treasury yields pressure risk assets
News

Bitcoin drops below $98,000 as Treasury yields pressure risk assets

January 7, 2025
Euro zone inflation, December 2024
News

Euro zone inflation, December 2024

January 7, 2025
Next Post
European leaders in France, Norway and Germany hit back against Elon Musk in UK political meddling row

European leaders in France, Norway and Germany hit back against Elon Musk in UK political meddling row

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

What's New Here!

The 7 best white elephant gifts that are worth stealing

The 7 best white elephant gifts that are worth stealing

December 20, 2024
Judge rejects sale of Alex Jones’ Infowars to The Onion, calling bankruptcy auction process flawed

Judge rejects sale of Alex Jones’ Infowars to The Onion, calling bankruptcy auction process flawed

December 11, 2024
Bryson DeChambeau roasts Rory McIlroy over US Open meltdown

Bryson DeChambeau roasts Rory McIlroy over US Open meltdown

December 17, 2024
Knicks top Wizards behind Josh Hart’s triple-double for eighth straight win

Knicks top Wizards behind Josh Hart’s triple-double for eighth straight win

December 31, 2024
Samsung Electronics banks on AI to outpace global growth in smartphones, home appliances

Samsung Electronics banks on AI to outpace global growth in smartphones, home appliances

January 7, 2025
Dollar’s Trump-fueled gains face a reality check late next year

Dollar’s Trump-fueled gains face a reality check late next year

December 16, 2024
Swiss National Bank takes leap with 50-basis-point interest rate cut amid franc strength

Swiss National Bank takes leap with 50-basis-point interest rate cut amid franc strength

December 12, 2024

About

World Tribune is an online news portal that shares the latest news on world, business, health, tech, sports, and related topics.

Follow us

Recent Posts

  • Rangers’ Filip Chytil suffers upper-body in latest injury worry
  • Aviation industry to have another hard year led by Boeing delays
  • Your company’s digital future lies off-screen
  • OpenAI’s Sam Altman denies sexual abuse allegations made sister, Ann

Newslatter

Loading
  • Submit Your Content
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2024 World Tribune - All Rights Reserved!

No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food

© 2024 World Tribune - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In