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Shares of semiconductor companies with strong positions in artificial intelligence (AI) led the market in a surge on Monday, as demand for the sector is expected to accelerate further in the coming quarters.
Super Microcomputer (Nasdaq:SMCI) was leading the way. it is Approximately 7% increase By early afternoon trading.
“The AI server market is booming and is expected to grow at a CAGR of 30.3% over the next few years, which will contribute significantly to SMCI’s revenue growth,” said Seeking Alpha contributor Johnny Zhang.
Advanced Micro Devices (Nasdaq:AMD) and Broadcom (Nasdaq:AVGO) increased by approximately 3% Marvel Technology (Nasdaq:MRVL) has been added almost Four%Intel (Nasdaq:INTC) is almost Five%.
Qualcomm (NASDAQ:QCOM) and Arm Holdings (Nasdaq:ARM) are both approximately 1%Meanwhile, Nvidia (NASDAQ:NVDA) rose 2%.
In addition to growing demand for AI hardware in data centers and cloud providers, demand for on-device AI on PCs and smartphones is also expected to grow.
“Industry research firms are predicting strong growth for AI PCs as well, with some predicting that annual AI PC shipments will more than triple by 2028,” Seeking Alpha contributor Beth Kindig wrote in an analysis on Monday. “In other words, AI-enabled PCs are projected to grow from about 19% of total PC shipments this year to more than 70% or even 80% by 2028.”
Taiwan Semiconductor (NYSE:TSM) is almost 2% This comes as the need for AI continues to drive demand for foundries.
