Nvidia rises over 10% weekly; semiconductor sector rebounds as AI chip concerns ease

Odaily News: Nvidia (NVDA) shares have surged more than 10% this week, while the Philadelphia Semiconductor Index (SOX) rose over 8% during the same period. The sector had previously been sold off on concerns over the scale of AI infrastructure investment and high valuations of chip companies, but market sentiment has since recovered.

Nvidia's gains were partly boosted by positive developments at SpaceX. During SpaceX's first earnings call, Musk stated that the company will build data centers both on the ground and in space in the future, and will exclusively use Nvidia chips.

Meanwhile, the market remains focused on HBM memory supply pressure. According to The Information, Nvidia is testing a version of its Rubin Ultra chip with reduced HBM configuration to address the global shortage of high-bandwidth memory. (Yahoo Finance)