Chipmakers and AI-linked stocks climb after Nvidia results, tariff block

Nuscale Power

29/05/2025 11:27

** Shares of chipmakers and AI-linked stocks climb premarket as bellwether Nvidia's NVDA.O sales hit from China export curbs was not as bad as feared

** NVDA beats quarterly sales expectations as customers stockpiled its AI chips, but U.S. curbs on China exports are set to slice off $8 billion in sales from the company's current quarter

** Nvidia shares jump 6% before the bell

** Among semiconductor stocks, Marvell Technology MRVL.O climbs 6.7%, Broadcom AVGO.O, AMD AMD.O, Arm ARM.O and Micron Technology MU.O all gain between 2.4% and 3.8%

** AI server maker Dell DELL.N up 1.8% and Super Micro Computer SMCI.O rises 3.9%

** Vertiv Holdings VRT.N, which designs and builds data center infrastructure, gains 5.5%

** Power companies, which are expected to see a surge in demand from energy-intensive data centers needed to develop AI technology, also gain; Constellation Energy CEG.O up 2.5%, Vistra VST.N up 3%

** Markets broadly higher after a U.S. federal court blocked President Donald Trump's "Liberation Day" tariffs from going into effect .N

** Philadelphia chip index .SOX down 2.9% YTD, compared with 0.1% gain in S&P 500 .SPX

(Reporting by Medha Singh)

((medha.singh@thomsonreuters.com))