Why Nvidia, Palantir, Broadcom, and Other Semiconductor and AI Stocks Rallied This Week
A double dose of good news gave investors hope for the future.
Investors and consumers alike have had plenty to worry about in recent weeks. The on-again, off-again tariffs, the ongoing trade war with China, and persistent inflation have led to concerns about a potential recession.
The resulting market tailspin resulted in a market correction, which threatened to spread to a bear market. However, a double dose of good news this week fueled a broad-based market rally, which helped drive artificial intelligence (AI) and semiconductor stocks higher.
With that as a backdrop, AI specialist Palantir Technologies (NASDAQ: PLTR) surged 18% this week, semiconductor giant Broadcom (NASDAQ: AVGO) soared 16.8%, chipmaker Nvidia (NASDAQ: NVDA) jumped 13.3%, and chip designer Arm Holdings (NASDAQ: ARM) rallied 13%, as of 1:10 p.m. ET on Thursday.
