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Tech Up as Broadcom Surges -- Tech Roundup

Dow Jones12-14

Shares of technology companies ticked up as one chip maker sparked a rally of semiconductor firms.

Shares of Broadcom added more than 20% after the chipmaker forecast robust growth, bolstered by artificial-intelligence demand. Shares of other chip maker, such as Micron and Advanced Micro Devices, rose in sympathy.

The PHLX Semiconductor index, or SOX, rose by more than 3%.

The U.S. is preparing rules that would restrict the sale of advanced artificial-intelligence chips in certain parts of the world in an attempt to limit China's ability to access them, The Wall Street Journal reported.

Amazon.com union members at two New York City warehouses have voted in favor of authorizing strikes, the International Brotherhood of Teamsters said, amid rising tensions with the company over contract negotiations.

 

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

December 13, 2024 17:39 ET (22:39 GMT)

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