Chipmaker Nvidia is set to invest hundreds of billions of dollars in chips and other electronics made in the US over the next four years, according to a Financial Times report. The move comes as the company’s CEO Jensen Huang expressed confidence in manufacturing several hundred billion units in the country.
Nvidia’s plans are part of a trend of tech companies looking to onshore more of their business in response to trade tariff plans and efforts by US President Donald Trump. TSMC, which manufactures chips designed by Nvidia, recently announced that it would invest $100bn (£77.3bn) in the US.
Huang stated that TSMC’s investment in the US “provides for a substantial step up in our supply chain resilience.” The news follows Nvidia’s unveiling of its next-generation Blackwell Ultra artificial intelligence (AI) chip at its GPU Technology Conference.
Shares in Nvidia rose nearly 2% on Wednesday and had risen 1.6% in pre-market trading, despite being down 12.5% year-to-date due to concerns over the level of spending on AI by major US tech companies.
Separately, Boeing shares rose nearly 7% after the company’s CFO offered a more upbeat outlook on cash flow. The company’s revenue was down 14% in 2024, but its CFO said that cash flow could improve in the first quarter by “hundreds of millions” of dollars.
Other tech companies making headlines include Nike, Shopify, and Prudential, which reported adjusted operating profit before tax at $3.1bn for 2024 and a total dividend of 23.12 cents per share, up 13%.
Source: https://uk.finance.yahoo.com/news/nvidia-boeing-nike-shopify-prudential-trending-tickers-104407134.html