US Semiconductor Firms See Stock Surge Amid Biden's China Probe

The shares of several prominent United States semiconductor manufacturers experienced significant gains on Monday, following the announcement by the outgoing Biden administration of an investigation into foundational semiconductors produced in China. This move aims to safeguard the nation's manufacturing sector against Beijing's alleged unfair trade practices.

Among the notable performers, Advanced Micro Devices Inc.'s shares surged by 5.36% at 11:10 am ET. Global Foundries Inc. followed closely with a 4.58% increase. Broadcom Inc. saw a 3.86% rise, while Microchip Technology Inc. gained 2.63%. Shortly after, Intel Corporation's shares rose by 2.54%, Nvidia Corporation by 1.97%, and Qualcomm Inc. by 1.79%.

The broader market also reflected this optimism, with the Nasdaq 100 index climbing by 0.39% at 11:26 am ET.