Chip stocks surged in intraday trading Monday after Taiwan's Foxconn posted record fourth-quarter revenue, driven by the boom in artificial intelligence (AI) demand.

Chip stocks including Nvidia, Micron, and ASML surged on Monday after Foxconn reported record fourth quarter revenue, pointing to strong AI demand.

Stocks popped to start the first full week of 2025, as investors eyed technology innovations and a report circulated that the incoming presidential administration might scale back tariff plans. The broad S&P 500 index rose 1.

Analysts are also bullish on the stock, with Bank of America recently revealing that it was the most widely owned company among US fund managers. Nvidia Corporation (NASDAQ:NVDA) also attracted record retail investors’ funds in 2024 and was the most sought after stock by this investor group. The story is unlikely to change in 2025.

Shares of NVIDIA Corp. NVDA rallied 3.43% to $149.43 Monday, on what proved to be an all-around mixed trading session for the stock market, with the S&P 500 Index SPX rising 0.55% to 5,975.38 and the Dow Jones Industrial Average DJIA falling 0.

U.S. stock indexes are rising to recover more of the holiday-season slide that bridged the new year. The S&P 500 was 0.8% higher in early trading Monday and on track for a second straight gain following five straight losses.