US stocks opened higher on Monday, led by a surge in chip companies benefiting from investment in generative artificial intelligence. The Dow Jones Industrial Average rose 0.4 percent to 42,879.88, while the S&P 500 increased 0.9 percent to 5,993.49. Chip designer Nvidia and Micron Technology saw significant gains, with shares rising by 3.3 percent and 9.4 percent respectively. The Nasdaq Composite jumped 1.3 percent to 19,882.28. Additionally, Fubo's stock soared 150 percent after Disney announced a merger with Hulu+ Live TV, while Disney's share price rose 0.3 percent. This week will be marked by the release of fresh jobs data and minutes from the US Federal Reserve's interest rate decision, as well as earnings reports from companies such as Delta Airlines and Walgreens Group Alliance.
https://www.brecorder.com/news/40341321/us-stocks-edge-higher-on-rebound-in-chip-stocksMicron Technology, a company listed on the Nasdaq stock exchange under the ticker symbol MU, specializes in developing high-performance memory and storage products through its Micron and Crucial brands. The company's focus is on delivering innovative solutions that fuel the data economy, enabling advancements in artificial intelligence and compute-intensive applications across various industries, from data centers to mobile devices.
https://www.manilatimes.net/2025/01/03/tmt-newswire/globenewswire/micron-appoints-mike-cordano-as-executive-vice-president-of-worldwide-sales/2029683Taiwan's Ministry of Science and Technology has warned that funding for key sectors such as semiconductors, AI, and aerospace may be reduced by T$20 billion next year due to opposition party legislation requiring cuts to economic and technology spending. The move is opposed by the ruling Democratic Progressive Party (DPP) and thousands of protesters. This reduction in funding could impact Taiwan's partnerships with tech companies like Micron, AMD, and Nvidia, which have collaborated on projects with partial government support.
https://channelnewsasia.com/business/taiwans-science-ministry-warns-spending-cuts-could-hit-chips-ai-funding-4828221