STOCKS | Chip Shares Rise After Qualcomm, Intel News

Hong Kong-listed chip stocks rose on Thursday, with Hua Hong Semiconductor up 4.1% at HK$115.5, SMIC up 1.3% at HK$66.2, Cambricon up 3.5% at HK$285.6, GigaDevice up 2% at HK$495.2, Tensortec up 3.1% at HK$349.8 and Biren Technology up 2.7% at HK$39.24, according to ETNet. The gains came after U.S. chip shares mostly advanced overnight even as the three major Wall Street indexes fell. Qualcomm said it signed an agreement to supply custom AI chips to Amazon, while Amazon bought $4 billion of Qualcomm warrants. Qualcomm shares jumped as much as 8.7% before closing up 3.2%. Intel was also reported to be planning another CPU price increase in early October of up to 10%, sending its shares up 9.1%. AMD rose 5.9% and SK Hynix gained 4.8%.