Artificial intelligence applications are booming, and global chip manufacturers have become the focus.
Sefa Ozer | Electronic+ | Getty Images
U.S. storage semiconductor maker drives global chip stocks higher on Thursday Micron The announced revenue guidance beat expectations and boosted the stock price.
According to LSEG data, Micron expects revenue for the quarter to the end of November to be US$8.7 billion, plus or minus US$200 million, higher than the expected US$8.28 billion.
Micron Technology shares rose 16% in U.S. pre-market trading on Thursday.
Shares of larger rivals Samsung Electronics and SK Hynix both rose in South Korea on Thursday. Samsung closed up more than 4%, and SK Hynix closed up more than 9%.
SK Hynix is heartened by a statement released on Thursday after the company said Mass production has started Its new version of high-bandwidth memory (HBM) chips is expected to be delivered before the end of the year.
SK Hynix and Micron are both memory chip suppliers for Nvidia’s products designed for data center artificial intelligence processes. HBM chips are seen as the key to artificial intelligence.
Micron Technology’s earnings report highlighted that demand for data center chips remains strong as investors look for signs of whether artificial intelligence-related stocks will continue to rise. Micron reiterated that its HBM wafers are sold out in 2024 and 2025.
In Japan, stocks Tokyo Electronics up 8%. The increase was driven in part by comments from the company’s chief financial officer to the board of directors Nikkei Index Artificial intelligence-related sales are expected to grow about 15% this fiscal year to 690 billion yen ($4.8 billion).
SoftBank GroupShares of the majority owner of chip design company Arm rose more than 4%.
Optimism surrounding Asian chip stocks filtered into Europe.
Dutch semiconductor equipment manufacturer ASML It rose more than 4% in early European trading. Other names include ASMI, It’s a semiconductor and STMicroelectronics also rose sharply.
About The Author
