These Chip Stocks Are Rising as CEOs Join Trump at China Summit

Key Takeaways

• Semiconductor stocks climbed Wednesday as Nvidia CEO Jensen Huang joined other tech CEOs attending a summit in China with President Trump.

• The CEOs of Qualcomm and Micron are also among the group of more than a dozen CEOs at the two-day summit.

Several semiconductor stocks are on the rise as several industry CEOs join President Trump on his China trip.

Shares of Nvidia (NVDA) were up about 2% in recent trading after closing at a fresh high Tuesday. Qualcomm (QCOM) also climbed about 2%, and Micron (MU) added close to 5%, with the PHLX Semiconductor Sector (SOX) up nearly 3%.

Nvidia CEO Jensen Huang, Qualcomm CEO Cristiano Amon, and Micron CEO Sanjay Mehrotra are all among the more than a dozen high-profile executives joining Trump on his trip to China for a two-day meeting with Chinese President Xi Jinping. Also attending are Tesla (TSLA) CEO Elon Musk, outgoing Apple (AAPL) CEO Tim Cook, and Boeing (BA) CEO Kelly Ortberg.

Why This Matters to Investors

Wednesday’s gains suggest investors are bullish the trip to China could benefit the chipmakers, after some like Nvidia have been hampered by export restrictions limiting their sales to the country.

Trump said ahead of the trip that he will be asking to “open up” China, with Xi and Trump expected to discuss a range of topics, including trade and AI, that could impact the chipmakers’ businesses.

Tech stocks have rallied lately amid renewed enthusiasm around the AI trade, and chip stocks have especially benefited, with several reaching new all-time highs in recent weeks.

With Wednesday’s gains, Nvidia shares are up about 20% since the start of the year, while Qualcomm has rallied 25% and Micron shares have nearly tripled in value.

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