Chip stocks including Nvidia, Micron, and ASML surged on Monday after Foxconn reported record fourth quarter revenue, pointing to strong AI demand.

Leading market analysts highlighted Foxconn's surprise Q4 performance, with Jim Cramer suggesting investors may have overlooked the company.

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,

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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Nvidia traded slightly higher after Jensen Huang's CES keynote. Traders are eyeing key economic data later in the week.

Global semiconductor stocks climbed on Monday after Foxconn posted record fourth-quarter revenue, suggesting the AI boom has far more room to run.

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.

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.

Major U.S. indexes gained at midday Monday, as tech stocks surged after Nvidia and Apple supplier Foxconn posted strong fourth-quarter results.