Arm, IBM and Hewlett Packard soar; Nvidia chip extends software rally
Software stocks rose on Monday Nvidia CEO Jensen Huang announced plans for a new chip that will power personal computers.
Investors turned to a number of computer-related names on the first trading day of June. nebius It continues its leadership with an increase of 18%.
ARM increased by 14.7 percent ServiceNow It was last seen 8.4% higher, leading the pre-market rally with a 14.4% gain. IBM’s increased by 8.1% and Hewlett Packard increased by 5.8%.
Speaking at the Computex conference in Taiwan on Monday, Huang introduced the new N1X processor, produced together with Microsoft, and said it would “lead to the reinvention of the computer.” It’s such a big deal as the reinvention of the phone into what we now know as the smartphone.
In contrast, Nvidia’s historic foray into the PC chip space has sent shares of rival companies soaring. Intel to retreat. Intel, in which the US government owns a nearly 10 percent stake, was down more than 3 percent in morning trading.
Earlier, a rally in South Korean tech stocks helped drive the rally. kospi It achieved a gain of 3.7 percent. LG Electronics finished the session with a 29.9% increase Samsung Electronics Its shares rose about 10.1%.
Samsung and LG executives are expected to meet with Jensen Huang later this week to raise the possibility of collaboration on artificial intelligence and robotics.
