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.

The world’s largest contract chipmaker reported a 39 per cent rise in October-December revenue to US$26.3 billion.

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.

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

TSMC, the world's largest contract chipmaker, reported on Friday fourth-quarter revenue that easily beat market forecasts and hit its own expectations as it reaped the benefit of artificial intelligence demand.

Taiwan Semiconductor Manufacturing's (NYSE:TSM) revenue for December 2024 surged 57.8% year-over-year to about NT$278.16B, amid a growing demand for AI applications. TSM — which produces chips for some of the world's largest tech companies including Apple (AAPL),