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Share Facebook Twitter LinkedIn Pinterest Email Google News' now to get latest article notification text size Semiconductor companies have been optimistic about AI this year. Kobe Wolf / Bloomberg Semiconductor stocks rose on ARM’s first day of trading, buoyed by optimism in the sector and artificial intelligence. Shares of Nivea (ticker: NVDA ), the largest chipmaker by market capitalization, rose 1.1% in premarket trading. Advanced Micro Devices (AMD) rose 0.7 percent. Micron rose 1.1%. UK-based chip designer ARM has priced its US initial public offering at $51 a share, well above the expected range. The IPO is the largest of the year so far, giving the company a market value of nearly $55 billion. The shares will debut on the Nasdaq Thursday under the ticker symbol RM. ARM designs chips for many semiconductor manufacturers, including the processors used in most modern smartphones. The arm itself does not make chips. Asian and European companies also seemed to benefit from Arm’s hype. Taiwan Semiconductor ‘S U.S. Treasury bills ( TSM ) were up 0.8% early Thursday after finishing 2.2% higher in Taiwan. Holland’ ASML container (ASML) rose 0.4%, while Germany’s Infineon (IFNNY) rose 0.3% in European trade. Write to Brian Swint at [email protected]
