Chip Stocks Mixed as Nvidia Launches New Chip to Bring AI Directly to Personal Computers

Chip stocks mixed in morning trading. Arm rose 16%; Micron rose 6%; SanDisk and Western Digital rose 5%; Nvidia rose 4%; TSMC and Seagate rose 3%; while Qualcomm fell 5%; AMD and Intel fell 4%.

Nvidia has unveiled a new chip that puts AI capabilities ​directly into laptops and desktop computers, pitting it against the likes of Advanced Micro Devices, Intel and Apple.

Nvidia CEO Jensen Huang, who is in ‌Taiwan for the Computex conference, said on the Monday that the RTX Spark PC chip is part of Nvidia's effort with Microsoft to "reinvent the PC" for the AI era after three years of collaboration between the companies.