U.S. chip stocks rise on back of Nvidia's results

Shares of chip markers and chip-related stocks rise in premarket trade following stellar forecasts from AI-giant Nvidia NVDA.O

Advanced Micro Devices AMD.O gains 5.2%, Broadcom AVGO.O rises 3.2%

Intel INTC.O up 2.2%, whiles Qualcomm QCOM.O rises 1.1%, Micron Technology MU.O adds 3%

U.S.-listed shares of Arm Holdings ARM.O O9Ty.F and Marvell Technology MRVL.O rises over 3.5% each

Nvidia forecasts Q4 revenue above estimates, while its Q3 revenue also beat analyst expectations

AI server maker Super Micro Computer SMCI.O jumps 6.6%

Shares of chip-making equipment companies rise; Applied Materials AMAT.O up 1.1%, while Lam Research LRCX.O and KLA Corp KLAC.O were up 2.5% and up 1.1% in light volumes

TSMC, whose biggest clients is Nvidia also up, its U.S.-listed shares TSM.N rise 2.9%
"Without taking any single-company view, we believe sufficient exposure to AI-linked stocks is critical in building and preserving wealth over time" - Mark Haefele, Chief Investment Officer at UBS Global Wealth Management

As of last close, NVDA was up nearly 40% YTD