By Adam Clark
Shares of Nvidia and its artificial-intelligence chip peers were gaining in premarket trading Thursday. Higher AI investment forecasts from Big Tech companies were helping dispel fears raised earlier in the week about OpenAI's spending.
Nvidia was up 0.6% in premarket trading. Advanced Micro Devices was rising 1.5% and Broadcom was gaining 1.4%.
The companies are set to benefit from increased capital expenditure forecasts, most notably from Meta Platforms, which raised its annual capex projection by $10 billion to a new range of $125 billion to $145 billion. Meta has chip supply agreements with Nvidia, AMD, and Broadcom.
Meta's spending plan, as well as higher capex forecasts from both Microsoft and Google-parent Alphabet, should soothe worries sparked earlier this week by a report OpenAI had missed internal revenue targets.
While Meta stock was falling sharply Thursday, down 8.6%, the company's AI investment is good news for its suppliers.
Write to Adam Clark at adam.clark@barrons.com
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(END) Dow Jones Newswires
April 30, 2026 06:13 ET (10:13 GMT)
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