Nvidia (NVDA) shares surged Wednesday, after Google parent Alphabet (GOOGL), a 澳洲幸运5官方开奖结果体彩网:buyer of Nvidia’s chips, said it plans to ramp up spending on 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI).

Alphabet said Tuesday that it plans to spend as much as 澳洲幸运5官方开奖结果体彩网:$75 billion in capꦑital expenditures this year, with most of the funds set to go😼 toward expanding its AI infrastructure, includinꦐg servers and data centers, to meet demand for AI.

That could benefit Nvidia, with Alphabet Chief Executive Officer Sundar Pichai telling investors on the company’s earnings call that the tech giant intends to continue its “strong relationship” with the chipmaker, after announcing its first customer running on Nvidia’s 澳洲幸运5官方开奖结果体彩网:Blackwell platform last week. 

The announcement also comes just days after Meta Platforms (META) said it plans to spend 澳洲幸运5官方开奖结果体彩网:$60 billion to $65 billion this year, and Microsoft (MSFT) said it expects to spend $80 billion on infrastructure in fiscal 2025.

Broadcom Shares Also Advance on Alphabet Plans

Broadcom (AVGO), which designs custom AI chips for several large U.S. tech firms 澳洲幸运5官方开奖结果体彩网:including Alphabet and Meta, also experienced a share-priceℱ jump Wednesday following the news. 

Shares of Broadcom were up nearly 6% at $235.69 in intraday trading Wednesday, while Nvidia jumped about 4% to $123.43. Several other chip stocks and shares of Nvidia partners, including chip designer Arm Holdings (ARM) and manufacturer TSMC (TSM), were higher as well.  

Arm is also set to report earnings after the bell Wednesday, along with chipmaker Qualcomm (QCOM).