Chip stocks jumped in out-of-hours trading on Wednesday as chipmaking giant Nvidia continued Tuesday’s market rally that saw itNvidia shares were up around 0.6% to more than $136 during out of hours trading Wednesday morning, when key U.S. markets are closed to observe Juneteenth.
The bump comes after Nvidia stock reached an all time high Tuesday, trading up at $135.58 on market close, a jump of more than 3.5%. Shares for other chip stocks also rose overnight alongside Nvidia’s rally, predominantly in Asia, where some of the world’s largest tech manufacturers are based, including some of Nvidia’s biggest competitors., another big beneficiary of the AI boom, surged more than 4% by market close in Taipei, with Hong Kong-listed Chinese manufacturers Hua Hong Semiconductor and Semiconductor Manufacturing International Corp also climbing by 0.4% and 1%.
South Korean chipmakers Samsung Electronics and SK Hynix respectively jumped by as much as 3% and 7% during trading hours, though gains atrophied as the day progressed and they were respectively 1.75% up and 0.43% down by market close in Seoul. Shares for U.S. chipmaking giants remained largely flat during out of hours trading Wednesday, with Arm Holdings and Micron Technology , which climbed nearly 9% and 4% on Tuesday, up by a modest 0.34% and 0.81%, respectively and Intel, which was down more than 1% Tuesday, relatively unmoved.Shares for Hon Hai Technology Group, more widely known as Foxconn, also jumped following the Nvidia rally. The Taipei-listed stock closed more than 2% higher at market close on Wednesday.
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