Nvidia Corp (NASDAQ:NVDA, ETR:NVD) shares added more than 5% to lead a rally among chipmakers after Meta and Microsoft reaffirmed their aggressive investment plans in AI.
Meta said it now expects its 2025 capital expenditures to range between $64 billion and $72 billion, a significant increase from previous forecasts to account for increased AI investments.
On the company’s earnings call, CEO Mark Zuckerberg outlined Meta’s plans to develop “full general intelligence” and described the opportunities in AI as “staggering.”
Microsoft, meanwhile, confirms plans to spend $80 billion on AI infrastructure in fiscal 2025.
These announcements eased investor concerns that major tech firms might slow down their AI data center investments due to economic uncertainty.
Nvidia shares added 5.2% at about $115, while Broadcom added 3.9% at $200 and AMD was up 2.6% at $100.