Shares in key American chip companies jumped pre-market Thursday after strong fourth-quarter earnings results from TSMC (TSM), and despite President Donald Trump’s new 25% tariff on “certain advanced AI chips.”
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Investors bought more shares in chipmakers such as Nvidia (NVDA), Advanced Micro Devices (AMD), and Broadcom (AVGO) despite the White House specifically listing Nvidia H200 and AMD MI325X as examples of the chips to be targeted. Both are high-performance AI accelerators.
ASML Holding (ASML), the world’s largest chip equipment manufacturer, also saw its shares hit a record high, surpassing $500 billion in market capitalization. TSMC, the world’s biggest contract chip manufacturer, is a top client of ASML.