Microsoft's AI Investment Fuels Chipmaker Rally

Microsoft's plan to invest $80 billion in AI-enabled data centers in fiscal 2025 boosted chipmaker stocks on Monday. Micron saw the biggest jump, surging 10%, while chip-making equipment companies like Applied Materials, Lam Research, and KLA Corp rose between 5.3% and 6.1%. Citigroup called Microsoft's spending plan a 'modest positive' update, removing the risk of a decline in capital expenditure.

Analysts noted that 'AI data centers are very chip hungry,' leading to the surge in the chip sector. Foxconn's record revenue for the fourth quarter, driven by strong demand for AI servers, further fueled the optimism. Nvidia, a Foxconn customer, gained 4.6% ahead of CEO Jensen Huang's keynote speech at the CES trade show. Super Micro Computer, an AI server maker, also saw a 9.9% rise

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