Consumers may be tightening their belts, but the companies buying "picks and shovels" for artificial intelligence don't seem to be. Chip stocks logged strong gains after the manufacturing giant TSMC reported that revenue for the month of June jumped 33% from the same month last year. The PHLX Semiconductor Index notched a 2.4% gain by the closing bell--double what the Nasdaq picked up for the day. Read More...
Consumers may be tightening their belts, but the companies buying “picks and shovels” for artificial intelligence don’t seem to be. Chip stocks logged strong gains after the manufacturing giant TSMC reported that revenue for the month of June jumped 33% from the same month last year. The PHLX Semiconductor Index notched a 2.4% gain by the closing bell–double what the Nasdaq picked up for the day.
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