Arm, IBM and Hewlett Packard soar as Nvidia chip 'reinvention' extends software rally
Key points
- Software stocks spiked on Monday after Nvidia CEO Jensen Huang unveiled plans for a new chip that will power personal computers.
- Investors piled into a range of computer-related names on the first trading day of June, with Nebius leading the way with an 18% surge.
- ARM was up 14.7%, while ServiceNow was last seen 8.4% higher, having led the premarket rise, soaring 14.4%.
- IBM surged 8.1% and Hewlett Packard rose 5.8%.
- Speaking at Taiwan's Computex conference on Monday, Huang unveiled the new N1X processor, made alongside Microsoft, which he said will spark a "reinvention of the computer….as big of a deal as the reinvention of the phone into what we now know as the smartphone." In contrast, Nvidia's historic push into the PC chip space sent shares in rival Intel into retreat.
Quick Summary
Software stocks spiked on Monday after Nvidia CEO Jensen Huang unveiled plans for a new chip that will power personal computers. Investors piled into a
Why It Matters
This development is important because it may impact public opinion, policy decisions, and future developments related to Arm, IBM and Hewlett Packard soar as Nvidia chip 'reinventio.
Key Takeaways
- Software stocks spiked on Monday after Nvidia CEO Jensen Huang unveiled plans for a new chip that will power personal computers.
- Investors piled into a range of computer-related names on the first trading day of June, with Nebius leading the way with an 18% surge.
- ARM was up 14.7%, while ServiceNow was last seen 8.4% higher, having led the premarket rise, soaring 14.4%.
- IBM surged 8.1% and Hewlett Packard rose 5.8%.
- Speaking at Taiwan's Computex conference on Monday, Huang unveiled the new N1X processor, made alongside Microsoft, which he said will spark a "reinvention of the computer….as big of a deal as the reinvention of the phone into what we now know as the smartphone." In contrast, Nvidia's historic push into the PC chip space sent shares in rival Intel into retreat.
📌 Source: CNBC
The BriefWire