Semiconductor stocks were mostly lower to end the 2025 trading year, as investors looked to lock in profits heading into 2026.
Nvidia (NVDA), however, bucked the trend, and was up modestly after it was reported that the company has approached Taiwan Semiconductor (TSM) about increasing production of its H200 GPUs amid a surge in demand from China. Taiwan Semiconductor shares rose 2% on the back of the news.
An Nvidia spokesperson told Seeking Alpha that the company “continuously” manages its supply chain. “Licensed sales of the H200 to authorized customers in China will have no impact on our ability to supply customers in the United States,” the spokesperson said via email. “Offering the H200 to approved commercial customers, vetted by the Department of Commerce, strikes a thoughtful balance. China is a highly competitive market with rapidly growing local chip suppliers. Blocking all U.S. exports undercut our national and economic security and only benefited foreign competition.”
Nvidia competitors AMD (AMD) and Intel (INTC) saw fractional declines in late morning trading. Intel also completed selling $5B worth of itself to Nvidia earlier this week.
Other semiconductor stocks were also lower to end the trading year, including Micron (MU), which soared in value this year. Micron shares fell 1.6% on Wednesday, but have gained more than 220% amid strong demand for memory products, due largely to artificial intelligence. Storage makers Seagate Technology (STX), SanDisk (SNDK) and Western Digital (WDC) also saw declines of a similar magnitude on Wednesday, but the trio, like Micron, have also seen their valuations explode in 2025 due to AI spending.
Other semiconductor stocks, such as Broadcom (AVGO), Qualcomm (QCOM), Texas Instruments (TXN), Analog Devices (ADI) and NXP Semiconductor (NXPI) also saw declines of around 1%.
Chip equipment makers, such as Lam Research (LRCX), ASML (ASML), KLA Corp. (KLAC) and Applied Materials (AMAT) were mixed.