Wall Street rallied Wednesday as the services activity gauge indicated a stronger-than-expected expansion in May, pushing back fears of an economic slowdown which surfaced in recent days.
Nvidia CEO plans increased investments in Taiwan, praising TSMC and other local tech suppliers. Stock up 197% in past year. Gain exposure with SMH, IYW.
Chip stocks, including NVDA, AMD, QCOM, ARM, and Big Tech stocks like MSFT, META, GOOGL, AAPL, and AMZN, are trading lower due to TSMC's plans to raise AI chip production prices.
Nvidia Corp. (NASDAQ: NVDA) is nearing the completion of its certification for Samsung Electronics' (OTC: SSNLF) high-bandwidth memory (HBM) chips, essential for AI platform training. Nvidia CEO Jensen Huang confirmed at Computex that the company is evaluating HBM chips from Samsung and Micron Technology (NASDAQ: MU).