Nvidia stock jumps 8% as AI chip stocks rebound on Big Tech spending — what to watch next week
Nvidia shot up 7.8% on Friday, locking in a strong comeback for AI-linked chip and data center names as traders piled back into “picks-and-shovels” plays. AMD took off with an 8.3% gain, Broadcom rallied 7.1%, and the Philadelphia semiconductor index jumped 5.7%. Amazon, though, dropped 5.6% after warning this year’s capital expenditures would soar over 50%. “There’s real demand” for AI products, said Ross Mayfield, investment strategy analyst at Baird, pointing out that recent selloffs have been quick to attract fresh buyers.