Shares of AI companies and chip manufacturers were among the winners on the US trading floor on Tuesday. That’s what lies behind it.
• Palantir, Intel and AMD asked
• Trump reverses parts of Biden’s policy
• Rumors about Intel and Elon Musk
Palantir shares temporarily gained 0.96 percent to $72.50 on the NASDAQ, while Intel shares rose 3.28 percent to $22.20. AMD also saw price gains of 0.71 percent to $122.30. Even if the stocks come from different industries, the reason for the price increases is the same: Donald Trump.
Trump withdraws Biden order
The Republican, who was sworn in the day before, issued numerous decrees on his first day in office. In addition, the now 47th President of the United States also reversed a number of political actions taken by his immediate predecessor, Joe Biden.
Among other things, he revoked an order from the Democrat in October 2023 that was aimed at limiting the risks of AI to consumers and national security. Software maker Palantir is one of the biggest beneficiaries of this move.
Will it now become easier for chip manufacturers?
The withdrawal of Biden’s order apparently gives investors hope that Trump could also counteract his predecessor’s policies in other areas. For example, market participants are increasingly buying into semiconductor companies in the hope that restrictions on chip manufacturers that Biden had imposed could be lifted again under Trump.
In the case of Intel, takeover rumors are also continuing to drive up the price, which had already caused strong premiums in Friday trading. Rumor has it that another industry giant could play a role in a possible takeover; Elon Musk’s name also comes up in this context. One of the most widely followed semiconductor analysts, Dylan Patel, who heads the research firm Semi Analysis, fueled speculation on Friday by posting on X:
Elon’s jet is in Florida.
Global Foundries jet is in Florida.
Qualcomm’s jet is in Florida.
In case anyone was wondering what’s going on with Intel…
They are at Mar-a-Lago.
Make America Great Again can only be true if Intel is saved.-Dylan Patel (@dylan522p) January 17, 2025
“Elon’s jet is in Florida. Global Foundries’ jet is in Florida. Qualcomm’s jet is in Florida. In case anyone is wondering what’s going on with Intel… They’re at Mar-a-Lago. “Make America Great Again” can only come true if Intel is saved,” the expert wrote.
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