Chip stocks were mixed on Thursday after President Donald Trump said he did not discuss approving Nvidia (NVDA) Blackwell chip sales to China in a meeting with President Xi Jinping in South Korea.
Trump had previously hinted at potential support for exporting a scaled-down version of the company’s flagship AI graphics processing unit, or GPU.
On Wednesday, Nvidia (NVDA) made history as it became the first company in the world to crack $5T in market capitalization. The tech giant crossed the $4T threshold in early July and took just 113 days to top $5T.
Shares of AI chipmaker Nvidia (NVDA) and Advanced Micro Devices (AMD) dipped about 2% each. Broadcom (AVGO) fell around 3%, but Qualcomm (QCOM) was largely flat but in the green.
Allegro MicroSystems (ALGM), which reported second quarter results, saw its stock jump by about 3%. Meanwhile, Impinj’s (PI) stock slumped around 9% following its third quarter results.
Shares of GlobalFoundries (GFS) jumped nearly 5%, while Lattice Semiconductor (LSCC), NXP Semiconductors (NXPI) and Texas Instruments (TXN) each rose about 1%. Taiwan Semiconductor Manufacturing (TSM) and STMicroelectronics (STM) were largely flat but in the green.
Intel (INTC) dipped about 1%, while Marvell Technology (MRVL) and Analog Devices (ADI) were in the red.
Chip equipment makers: Applied Materials (AMAT) and Lam Research (LRCX) climbed nearly 2% each, while ASML (ASML) arose about 1%. KLA (KLAC) was largely flat but in the green.