AI and semiconductor stocks rise on AI spending optimism
SMH•AI and semiconductor stocks rose as investors anticipated continued AI infrastructure spending. Broadcom gained 2.59%, while the Philadelphia Semiconductor Index reached a one-week high and was on course for a third day of gains.
1. AI stocks advance
Broadcom rose 2.59% after unveiling $63 billion in financing for Anthropic’s computing capacity on Monday. D.A. Davidson said the AI cycle “isn't over quite yet” and raised its rating to “buy” from “neutral.”
2. Gains across the sector
Nvidia gained 0.75%, AMD climbed 4.28%, Micron rose 2.46% and Intel added 2.70%. Dell jumped 7.69%, Super Micro gained 6.85%, and Nebius advanced 9.68%. Meta fell 0.94%, the only decliner among the Magnificent 7, after a plan to raise $97.5 billion in equity.
