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Global semiconductor stocks rose on Monday after the electronics giant held Foxconn It reported record revenues in the fourth quarter, suggesting that the AI boom has much more room to run.
Hon Hai Precision Industry, which does business as Foxconn internationally, said in a statement on Sunday that the company's total revenue in the fourth quarter was NT$2.1 trillion ($63.9 billion), up 15% year-on-year.
Foxconn – it is the supplier of apple – It also set a record, recording the highest fourth-quarter revenue ever in the company's history, according to the statement.
The company's bumper revenue performance was driven by growth in its cloud and network products – which include AI servers like those designed by the likes of the chip maker Nvidia – Components and other product segments.
Foxconn said its smart computing and consumer electronics products — which include iPhones and other smartphones — saw “minor declines.”
As a result, shares of many semiconductor companies rose across Asia, Europe and the United States.
in asia, Taiwan Semiconductor Manufacturing Company The stock hit a record high on Monday and closed up nearly 5% in Taiwan.
TSMC is the world's largest semiconductor manufacturer, producing chips for the likes of it Advanced micro devices And Nvidia.
Other Asian chip companies also posted share price gains, with South Korea's SK Hynix and Samsung shares rising about 10% and 4%, respectively.
In Europe, global biosemiconductor equipment company ASML saw its shares close 8.7% higher, while Dutch chip company ASMI closed 6.2% higher. German Infineon shares rose about 7%.
Shares of European chipmaker STMicroelectronics, listed in Paris, rose by about 7.9%.
In the US, Nvidia got a boost from Foxconn's numbers, rising nearly 5% and topping $150 for the first time since November.
Nvidia CEO Jensen Huang is scheduled to deliver a keynote speech at CES 2025 later today.
Also boosting overall chip stocks is Microsoft's announcement last weekend of plans to invest $80 billion in 2025 in data centers that can handle artificial intelligence workloads.
Microsoft is one of several tech giants spending on graphics processing units, or GPUs, from Nvidia to train and run its most advanced AI models.
Shares of AMD, Nvidia's closest competitor, rose more than 3% on Monday, while shares of other US chip companies rose. Qualcomm and Broadcom It also rose by approximately 3%.
