Buoyed by their impressive performance, the companies are busy expanding into new products and places. Contract manufacturers have also been expanding into new industries. In October Foxconn unveiled two new electric-vehicle designs,

Key Takeaways The S&P 500 added 0.6% on Monday, Jan. 6, led by a surge in semiconductor stocks as the first full week of the new year began.Teradyne shares pushed higher as Northland Securities analysts highlighted upside potential for the company's electronic testing equipment.

Semiconductor stocks jumped on Monday, lifted by buoyant news regarding the artificial intelligence sector. The S&P and Nasdaq posted two straight days of gains.

TSMC , the world's largest contract chipmaker, reported on Friday fourth-quarter revenue that easily beat market forecasts and hit its own expectations as it reaped the benefit of artificial intelligence demand.

Shares of artificial intelligence (AI) chipmakers like Broadcom ( AVGO -3.29%), Marvell Technology ( MRVL -2.34%), and Arm Holdings ( ARM -2.06%) rallied on Monday. At one point, they were up by 4%, 4.4%, and 5.4%, respectively. As of 1:26 p.m. ET, their gains had moderated to 1.2%, 1.7%, and 4.9%, respectively.

Foxconn reported a record revenue of NT$654.825 billion (approx. US$19.91 billion) in December 2024, thanks to the initial shipments of GB200-related products. This boost contributed to a total annual revenue of NT$6.

The Taiwan-listed assembler of Apple and Nvidia products posted record revenue for the fourth quarter, helped by robust demand for servers to power burgeoning artificial intelligence technologies.

Foxconn's fourth quarter 2024 revenue surged 15.17%, setting a record for the highest revenue ever, driven by strong demand in AI.

Chip stocks rose sharply on Monday, partly due to a solid earnings report from Foxconn, which pointed to continued AI demand.

TSMC is entering an unprecedented growth phase, driven by accelerating AI infrastructure demand. Check out why I reiterate a strong buy rating on TSM stock.

President-elect Donald Trump today announced that Emirati billionaire Hussain Sajwani will invest $20 billion to build new data centers in the U.S. The investment could eventually “somewhat more than double,” Trump stated during a Mar-a-Lago press conference.