Story
Meta and Broadcom Lead Tech Gains on AI Developments; SK Hynix Debuts on Nasdaq
Summary
Significant developments in the artificial intelligence sector, including a major chip deal between Apple and Broadcom and a new model release from Meta, fueled key stock moves this week, while memory giant SK Hynix completed its U.S. market debut.
A flurry of news centered on the artificial intelligence supply chain drove significant stock movements this week, with major gains for Meta Platforms and Broadcom. The week also saw the U.S. market debut of South Korean memory chipmaker SK Hynix and a sharp decline for Bloom Energy following a short-seller report.
AI Catalysts Boost Big Tech and Chipmakers
Meta Platforms (META) saw its shares climb 9.1% over the past week. The rally followed the release of Muse Spark 1.1, a new multimodal reasoning model from its AI division, and the launch of a public API that puts it in direct competition with offerings from OpenAI and Anthropic. According to research firm SemiAnalysis, Meta is projected to surpass its rivals in total AI compute capacity by the end of the year.
Broadcom (AVGO) gained 9.8% after Apple announced a multi-year agreement valued at over $30 billion for the design and production of custom silicon and wireless components. Apple called the deal its largest commitment under its American Manufacturing Program. In a note, Evercore ISI analyst Amit Daryanani said the agreement is an example of Apple "proactively locking up strategic parts of the BOM [bill of materials]."
Nvidia (NVDA) shares rose 6.5% for the week, boosted by reports that China is considering allowing a limited number of its leading AI firms to purchase the company's advanced H200 chips.
AdMarket Debut and Short-Seller Pressure
South Korean memory giant SK Hynix made its U.S. debut on Friday, with its American Depositary Receipts (ADRs) beginning to trade on the Nasdaq. In a CNBC appearance, SK Group Chairman Chey Tae-won stated the company was open to further U.S. investment and that demand in the AI era was set for "exponential growth."
In contrast, Bloom Energy (BE) shares fell 18% this week. The decline followed a report from short seller Hunterbrook alleging the company's fuel cells depend on Chinese-sourced scandium, a claim that contradicts the CEO's previous statements. Bloom Energy has rejected the allegations, calling them "false and misleading."