Chip stocks have been one of the premier trades on Wall Street over the last two years. If the first few trading days of 2025 are any indication, the group's strength is likely to continue. The VanEck Semiconductor ETF is already up 4% in January. Last year, the fund climbed 38.5% — adding to its 72.3% surge in 2023. Artificial intelligence darling Nvidia was also up 7.6% in the first two trading days of the new year, after sliding 2.9% in December.
There are "a lot of expectations that maybe Jensen will tease a little bit about the AI robotics strategy, maybe we will get some more granularity on the Blackwell ramp … also gaming and some other aspects of the business," Wedbush analyst Joel Kulina told CNBC's Frank Holland on Monday's " Worldwide Exchange ." "But clearly the bulls want to hear some color on how Blackwell is going so far in terms of supply and demand.