NVIDIA rose by 0.64%, but most other semiconductor stocks declined, leaving the Philadelphia Semiconductor Index with a slight gain.
On Thursday, the semiconductor index inched up 0.02% to 5,310.63 points on the New York Stock Exchange.
NVIDIA shares closed at $140.11, up 0.63%.
The gain followed an Oppenheimer report highlighting strong demand for NVIDIA’s AI-specific Blackwell chip. The brokerage firm maintained its “outperform” rating and raised its price target to $175, projecting a potential 25% upside from the closing price.
Oppenheimer attributed the target increase to fierce competition among U.S. tech giants like Amazon, Microsoft, Google, and Meta, all vying to secure NVIDIA’s AI chips for their infrastructure.
While NVIDIA gained, rival AMD slipped 0.45%.
Most other chip stocks also fell, with Intel Corporation being the exception, rising 1.44%. Broadcom dropped 0.87%, Micron fell 1.13%, and Taiwan’s TSMC declined 0.42%.
Despite these losses, the semiconductor index managed to close slightly higher.
