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

Buoyed by their impressive performance, the companies are busy expanding into new products and places. Contract manufacturers have also been expanding into new industries. In October Foxconn unveiled two new electric-vehicle designs,

Leading market analysts highlighted Foxconn's surprise Q4 performance, with Jim Cramer suggesting investors may have overlooked the company.

Nvidia shares climbed to close at an all-time high Monday after supplier Foxconn reported record fourth-quarter revenue, and ahead of a keynote address from Nvidia CEO Jensen Huang at a major consumer electronics show.

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Taiwan's Foxconn , the world's largest contract electronics maker, beat expectations to post its highest-ever revenue for the fourth quarter on continued strong demand for artificial intelligence (AI) servers.

Nvidia traded slightly higher after Jensen Huang's CES keynote. Traders are eyeing key economic data later in the week.

Major U.S. indexes gained at midday Monday, as tech stocks surged after Nvidia and Apple supplier Foxconn posted strong fourth-quarter results.

Semiconductor chip stocks rose on Monday after electronics giant Foxconn (HNHPF) reported record-breaking revenue for its fourth quarter, as the artificial intelligence boom continues into 2025.

Apple and Nvidia supplier Foxconn posted a record topline in Q4 driven by higher cloud and networking and strong demand from AI servers.

Nvidia GPUs have emerged as the primary choice among bidders for the IndiaAI Mission procurement initiative, while Foxconn plans to mimic its Chinese success in India by building a mega dormitory facility in the South Asian country.