The bullishness has pushed the combined market capitalisation of the Philadelphia Stock Exchange Semiconductor Index and a gauge tracking Asia chip stocks up by just over US$200 billion in the latest session, according to Bloomberg calculations.
Global chipmakers saw their market value soar as investors rushed to get exposure to artificial intelligence, the latest sign of a frenetic bull run that is pushing tech stocks to all-time highs.
The sector is being swept up by a wave of good news from AI companies, including ChatGPT-owner OpenAI’s record US$500 billion valuation on an employee share sale and its pacts with a group of South Korean chipmakers, as well as a report that Intel Corp is in talks to add Advanced Micro Devices Inc as a customer.
