Global chip stocks climb as Foxconn’s bumper results show a continuation of the AI boom

Image source: Photo by Jeremy Waterhouse - Pexels

Global chip stocks climb as Foxconn’s bumper results show a continuation of the AI boom. 💻 Global semiconductor stocks climbed on Monday after contract electronics giant Foxconn announced record fourth-quarter revenues, suggesting the artificial intelligence boom has far more room to run. CNBC reports.

⚡ VoltAlliance: Volkswagen and Xpeng will open their respective super-fast charging networks to each others’ customer in China as part of a memorandum of understanding. CNBC reports.

🚧 EVColdWar: Beijing is planning to curb the export of technology used to extract minerals critical for the growth of the global electric vehicle industry, as a tech rivalry with Washington escalates ahead of the inauguration of US President-elect Donald Trump later this month. CNN reports.

🛡️ USSteelGuard: Biden blocked the sale of U.S. Steel to Japan’s Nippon Steel, fulfilling his pledge to keep the storied steelmaker domestically owned. Yahoo Finance reports.

✈️ FlightFine: The Department of Transportation fined JetBlue Airways $2 million for repeated delays on four routes, crediting it $1 million for past and future passenger compensation. CNBC reports.

⚡ RivianRush: Rivian surpassed analysts' expectations for fourth-quarter deliveries on Friday and said its production was no longer constrained by a component shortage, a positive sign for the electric vehicle maker aiming to turn its first profit. Yahoo Finance reports.

🚚 TruckTrend: General Motors reported a 4.3% rise in annual U.S. auto sales on Friday, supported by higher demand for its pickup trucks and SUVs. Reuters reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1. $:MEGL: Magic Empire Glb
Total gain: 179.3%

2. $:KITT: Nauticus Robotics
Total gain: 83.42%

3. $:BAOS: Baosheng Media Group
Total gain: 76.61%

4. $:MBOT: Microbot Medical
Total gain: 71.02%

5. $:SBEV: Splash Beverage Group
Total gain: 66.3%

The closing price of the top three market percent gainers trading near or above $3 on January 3.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1. $CRNC: Cerence
Total gain: +143.88%
The company announced an expanded collaboration with NVIDIA to enhance the capabilities of its CaLLM family of language models. Benzinga reports.

2. $KITT: Nauticus Robotics
Total gain: +138.36%
The stock appeared to be moving on no notable news.

3. $RR: Richtech Robotics
Total gain: +68.88%
The stock appeared to be moving on no notable news.

Time (ET) / Report / Period

9:45 am - S&P final U.S. services PMI - December
10:00 am - Factory orders - November

"Amateurs think about how much money they can make. Professionals think about how much money they could lose."

― Jack D. Schwager

Sourced in:
"Market Wizards: Interviews with Top Traders’’, by Jack D. Schwager, published
in 1989.