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Why Nvidia, Broadcom, and Other Chip Stocks Are Surging Wednesday
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Key points
- Nvidia and Broadcom shares said Wednesday at Google Parent Alphabet, a customer of two chipmakers, plans to increase spending on artificial intelligence.
- Alphabet said Tuesday it plans to spend as much as $75 billion in capital expenditure this year, with most of the funds going to expand its AI infrastructure.
- Alphabet CEO Sundar Pichai also told investors about the company’s earnings call, and the technology giant intends to continue to maintain a “strong relationship” with NVIDIA.
nvidia (NVDA) Stocks soared Wednesday, after Google’s parent Alphabet (Googl),, NVIDIA chip buyersSays it plans to increase spending Artificial Intelligence (AI).
letter Tuesday said how much it plans to spend $75 billion in capital expenditure This year, most of the funds will be used to expand its AI infrastructure, including servers and data centers, to meet the demand for AI.
That might benefit NvidiaAlphabet CEO Sundar Pichai told investors that the company’s earnings call is the technology giant intends to continue its “strong relationship” with chipmakers after announcing its first Nvidia client. Blackwell Platform last week.
The announcement also appeared a few days after the Meta Platform (Yuan) Say it plans to spend 60 billion to 65 billion US dollars This year and Microsoft (MSFT) said it expects to spend $80 billion on infrastructure in fiscal 2025.
Broadcom Stocks also push forward the letter plan
Broadcom (AVGO), designing customized AI chips for several large American technology companies Including letters and elementsAfter the news, the stock price jumped on Wednesday.
Broadcom shares rose nearly 6% to $235.69 in intraday trading on Wednesday, while Nvidia jumped about 4% to $123.43. Several other chip stocks and stocks of NVIDIA partners, including Chip Designer Arm Holdings (arm) and manufacturer TSMC (TSM), also higher.
ARM will also be with chipmaker Chipmaker QualcommQCOMTo.
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