Shares of Applied Materials Inc (NASDAQ:AMAT) are gaining Tuesday, swept up in a broad rally across the artificial intelligence chip sector. The positive momentum is being driven by two developments pointing toward increased demand for semiconductors and the equipment needed to produce them.
What To Know: A primary catalyst was news of the Trump administration’s plan to unveil a $70 billion investment initiative in Pennsylvania focused on AI and energy. The proposal includes building new data centers and upgrading power grids, signaling a massive expansion in infrastructure that will require a substantial volume of new chips.
