European chipmakers rise after Nvidia's upbeat Q2 outlook

Osram Licht AG

25/05/2023 09:23

(Adds broker comment in 4 paragraph, updates share price moves)
    ** European chipmakers rise following Nvidia's  NVDA.O 
upbeat second-quarter outlook, driving the wider tech stocks
index  .SX8P   2% higher 
    ** Nvidia on Wednesday forecast its second-quarter revenue
50% above Wall Street's estimates and said it was boosting
supply to meet surging demand for its artificial-intelligence
chips
    ** Dutch-listed ASMI  ASMI.AS , ASML  ASML.AS  and BE
Semiconductor Industries  BESI.AS   lead the gains, rising by
8.6%, 5.7%, and 8.7%, respectively
        ** "ASM International, ASML Holding and BESI make
equipment needed in the production of AI chips and, thus, they
will benefit from surging demand for leading-edge AI
semiconductors signaled by Nvidia," ING analyst Marc Hesselink
says
  
        ** Norway's Nordic Semiconductor  NOD.OL  rises by 3%,
while French Soitec  SOIT.PA  is up 6.4%
    ** Germany's Siltronic  WAFGn.DE  rises by 7.5%
    ** PVA TePla  TPEG.DE  rises 2.9%, while Austria-based AT&S'
 ATSV.VI  and AMS Osram  AMS.VI  are up 4.07% and 1%,
respectively
        ** Switzerland's VAT Group  VACN.S  is up 6.75%

 (Reporting by Tristan Veyet)
 ((Tristan.chabba@thomsonreuters.com))