Shares of many artificial intelligence (AI) stocks moved higher on the news. Semiconductor company Micron Technology ( MU 5.96%) traded 5.7% higher as of 12:12 p.m. ET. Meanwhile, AI software companies BigBear.ai ( BBAI 4.05%) and C3.ai ( AI 3.04%) traded nearly 5% and 3% higher, respectively.
After years of stagnation, the PC market enjoyed a boom when the pandemic hit. Computer makers hoped to keep the good times rolling with AI PCs, but this new product category has been a hard sell. The latest numbers from market research firms Gartner and IDC show barely any growth at all during the 2024 holiday season.
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Investors could be encouraged by news from TSMC, which reported a surge in profit on strong demand for AI semiconductors.
Tomorrow, the BLS will publish its Consumer Price Index (CPI) report -- and the related read on inflation will likely spur big movement for stocks again. CPI reports have recently been even bigger market movers than the PPI reports, and investors will be looking to the report to weigh the macroeconomic backdrop for growth stocks.
NVIDIA Corporation NVDA has been around for decades. However, with the advent of artificial intelligence (AI), the company has witnessed explosive business growth. In the past year, NVDA stock has surged 149%, becoming one of the top S&P 500 performers of 2024.
Nvidia, AMD, and Broadcom sold off after the Biden Administration released new AI chip export rules late Friday.
President Joe Biden’s final days in office were all about cementing the United States’ well established lead over China in the market for artificial intelligence.
The softer inflation data provided reassurance that price pressures ... which soared 19.3% after Macquarie announced a $5 billion investment in its AI data centers, and Teladoc Health, which climbed 4% on news of a partnership with Amazon.
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Qualcomm Incorporated, Amazon.com Inc, Micron Technology Inc. Read The Tokenist (Timothy Fries)'s latest article on Investing.com
The company's share price was up 11% as of 11 a.m. ET and had been up as much as 14.9% earlier in the daily session. Meanwhile, the S&P 500 index was up 1.6% and the Nasdaq Composite index was up 2.1%.