Shares of worldwide semiconductor firms rose on Wednesday, boosted by positive earnings within the industry and a report of doubtless looser U.S. export restrictions on China.
AMD was among the many morning's big winners, with shares rising greater than 7% after the corporate reported an increase in revenue and profit in its second-quarter financial report. AMD saw strong growth in its data center business, driven by sales of its graphics processing units (GPUs), that are used to coach artificial intelligence models.
The strong figures gave a lift to other US chipmakers, including competitor NVIDIA And Qualcomm.
Also on the earnings side Samsungthe world's largest memory chip maker, reported on Wednesday a 1,458.2% year-on-year increase in second-quarter operating profit. Some of its chips are also critical for AI applications. Samsung shares closed 3.58% higher in South Korea. Shares of rival SK Hynix also closed 3% higher.
But it wasn't just earnings that drove semiconductor stocks higher. Reuters reported on Wednesday that the U.S. is considering expanding a rule that would limit foreign firms' exports of semiconductor equipment to China, but could exempt allies reminiscent of Japan, the Netherlands and South Korea.
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