Nvidia Corp. (NASDAQ:NVDA), Advanced Micro Devices, Inc. (NASDAQ:AMD), and other semiconductor chip companies are trading higher on Wednesday due to the continued artificial intelligence frenzy amid the odds.
The U.S. government is proposing to extend its embargo on semiconductor technology to Russia after China and the Middle East, saying China’s growing trade with Russia allows Moscow to continue to arm its soldiers.
Previous sanctions against China followed semiconductor companies manufacturing less efficient custom chips to comply with sanctions.
Meanwhile, Nvidia’s main supplier Taiwan Semiconductor Manufacturing Company (NYSE:TSM) looking to hire close to 2,000 employees of Europe through its subsidiary European semiconductor manufacturing company (ESMC).
The move coincides with TSMC’s plans to begin building a 12-inch wafer fab in Dresden in partnership with Robert Bosch GmbH, Infineon Technologies AG and NXP Semiconductors SA (NASDAQ:NXPI).
Nvidia Impresses Street as Number One AI Beneficiary Buoyed by Blackwell Launch. They also argue that AMD is gaining market share in the client and server processor market through its product line.
Nvidia stock has gained more than 206% over the past 12 months. AMD is up more than 23%.
Investors can gain exposure to the semiconductor sector through VanEck Semiconductor ETF (NASDAQ:SMH) And the iShares Semiconductor ETF (NASDAQ:SOXX).
Price Actions: Shares of NVDA were trading up 3.98% at $125.72 at last check on Wednesday. AMD shares rose 0.93% to $160.40.
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This item What’s happening with Nvidia and AMD stocks on Wednesday? originally appeared on Benzinga.com
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