Nvidia's stock closed at a record high on Monday, as the company announced new graphics chips for PCs that use its AI processors. The tech sector drove gains in major averages, with the Nasdaq Composite climbing 1.24% and the S&P 500 rising 0.55%. Foxconn reported record fourth-quarter revenue, fueled by growth in cloud and networking products, including AI servers designed by Nvidia. Microsoft announced plans to invest $80 billion in fiscal 2025 to build data centers for AI workloads. The semiconductor sector saw gains, with the VanEck Semiconductor ETF jumping more than 3%.
https://www.cnbc.com/2025/01/07/cnbc-daily-open-the-ai-sector-still-has-legs-to-run.htmlFoxconn, the world's largest contract electronics maker, reported its highest-ever revenue for the fourth quarter, exceeding expectations with a 15.2% increase to T$2.13 trillion ($64.72 billion). The company's strong demand for artificial intelligence (AI) servers drove growth in its cloud and networking products division, particularly from customers such as Nvidia, an AI chip firm. In contrast, sales of smart consumer electronics, including iPhones assembled by Foxconn, experienced "roughly flattish" year-on-year growth.
https://www.brecorder.com/news/40341182/foxconn-beats-estimates-with-record-fourth-quarter-revenue-on-ai-demand