Nvidia's stock continues its upward trajectory, fueled by strong demand in the artificial intelligence sector. Foxconn's record fourth-quarter revenue, driven by growth in cloud and networking products, including AI servers, further underscores the industry's momentum.
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe. Tencent said in a statement that its inclusion on the list was 'clearly a mistake.' Nvidia began life as a chipmaker for games, but Wall Street is more interested in its AI business.
Foxconn reported record fourth-quarter revenue, which grew 15% year over year, partly powered by growth in its cloud and networking products, which includes AI servers. Those reports suggest that companies are continuing to invest heavily in AI. Riding on the back of such tailwinds, Nvidia shares jumped 3.4% — their third straight day of gains — to close at a record $149.43. The company's stock inched up further in extended trading, and is currently above the $150 level. The Dow Jones Industrial Average dipped 0.06%. The index shed earlier gains accrued when it was reported that Trump might soften his tariffs on imports, which would have benefited its constituent blue-chip companies such as those in the consumer discretionary sector
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