Chip stocks including Nvidia, Micron, and ASML surged on Monday after Foxconn reported record fourth quarter revenue, pointing to strong AI demand.

Stocks popped to start the first full week of 2025, as investors eyed technology innovations and a report circulated that the incoming presidential administration might scale back tariff plans. The broad S&P 500 index rose 1.

The Taiwan-listed assembler of Apple and Nvidia products posted record revenue for the fourth quarter, helped by robust demand for servers to power burgeoning artificial intelligence technologies.

KEY TAKEAWAYS Chip stocks are surging in premarket trading Monday after Taiwan's Foxconn posted record fourth-quarter revenue, driven by the boom in artificial intelligence (AI) demand.Foxconn, whose formal name is Hon Hai Precision Industry,

December 2024 revenue soared 42.31% year-over-year, while setting a record for the highest fourth quarter revenue ever. Fourth Quarter: The Apple (AAPL) supplier — which is formally known as Hon Hai Precision (OTCPK:HNHAF) (OTCPK:HNHPF) — said revenue in the fourth quarter grew 15.

Foxconn reported a record revenue of NT$654.825 billion (approx. US$19.91 billion) in December 2024, thanks to the initial shipments of GB200-related products. This boost contributed to a total annual revenue of NT$6.