Nvidia rebounds after TSMC says AI chip demand remains strong
Publishing timestamp: 2024-07-18 16:28:59
Summary
Nvidia shares rose nearly 3% after TSMC reported high demand and supply constraints for high-end AI chips. Geopolitical concerns over Taiwan highlighted by comments from U.S. presidential candidate Donald Trump caused a drop in chip stocks, but Nvidia rebounded. Other chip stocks struggled, with some like Intel and Broadcom seeing gains. Investors are reallocating gains from strong semiconductor performers into other shares, but upcoming commentary on return on investment on AI chips may boost the sector again.
Sentiment: MIXED
Tickers: TSMC3'-BR, ARM, SMCI, 2330-TW, AMD, AVGO, NVDA, QCOM, INTC,
Keywords: advanced micro devices inc, apple inc, taiwansmfac drn ed, united states, super micro computer inc, donald trump, intel corp, business, taiwan, breaking news: technology, qualcomm inc, arm holdings plc, government and politics, technology, mobile, broadcom inc, nvidia corp, business news, taiwan semiconductor manufacturing co ltd,
Source: https://www.cnbc.com/2024/07/18/nvidia-rebounds-after-tsmc-says-ai-chip-demand-remains-strong.html