Shares of semiconductor companies closed out their best year in more than a decade, led by rallies in the chipmakers that are seen as the most immediate beneficiaries of artificial intelligence.
The Philadelphia Stock Exchange Semiconductor Index rose 65% this year, with 2023 representing the biggest one-year gain for the index since 2009, when it rose 70% in the aftermath of the financial-crisis market bottom. The index fell 0.8% on Friday, but recently traded near record levels.
All but one of the stocks in the 30-member index rose in 2023, but among the gainers there was one standout: Nvidia ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.