Chip stocks bounce on Broadcom, OpenAI deal and easing China tensions
Donald Trump
Chip stocks bounced on Monday, clawing back losses from Friday's market rout as OpenAI announced another computing deal with a major chipmaker and U.S.-China tensions eased. OpenAI and Broadcom announced a deal to develop custom artificial intelligence chips. The Sam Altman-led startup has recently inked agreements with Nvidia and Advanced Micro Devices . Broadcom shares bounced 10% on the news. Over the weekend, President Donald Trump tried to calm worries about China in a post on Truth Social,
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