Los chips predominan en el club más prestigioso de la Bolsa

The most prestigious club of the stock market is being dominated by semiconductor chips, also known as chipmakers. These companies are the talk of the town, with Nvidia taking the lead as their benchmark. Semiconductor chips are the foundation of artificial intelligence (AI) software such as ChatGPT and Gemini, or AI agents that cannot exist without advanced hardware and components.

The impact on the stock market is significant. Out of the 16 companies, most of which are technological, six are semiconductor chipmakers with a combined market capitalization of over a billion dollars, and Advanced Micro Devices (AMD) has recently entered this elite group. This advancement is attributed to the growth of AI agents, with Meta's first AI agent, Muse, providing the final push.

Experts identify Intel and AMD as the clear providers of these chips. Intel has fallen behind in the AI race, leading to harsh penalties for investors, but its extensive development requires efficient CPU management. AMD's rise continues, following Nvidia's rise to the most valuable company in the world on the stock market, followed by Taiwan Semiconductor Manufacturing Company (TSMC), Broadcom, Micron Technology, and Samsung Electronics.

The market closely monitors these companies after prominent AI leaders have signaled a need to slow down their development due to potential negative implications for humanity. Industry experts believe that neither the United States nor China will halt their pursuit of leadership in this field, while stock analysts assert that these companies have far more orders to cover for the coming years.

Unlike previous speculative episodes, this rebound is supported by profits and demand. Experts, such as Alex Stauffacher from Vontobel and Alex King from Wellington Management, view current valuations as attractive and believe that the long-term drivers of the AI cycle remain intact. OpenAI has postponed its IPO, expected in the next few months, due to risks identified in AI, estimating a valuation between 850 billion and over 1 trillion dollars.

Anthropic, despite warning of dangers, continues with its IPO, now delayed by a month until November, estimating a valuation close to two trillion dollars. Saudi Aramco, Berkshire Hathaway, and Eli Lilly are the only non-technological companies to surpass a billion dollars in market capitalization. In Europe, ASML, a semiconductor company, has the highest market valuation at over 575 billion euros, followed by SAP and Siemens, which aim to fill a gap in AI.

The future of European semiconductors lies in reinforcing their competitive advantages, such as mature node manufacturing, analog and power chips, and worldwide equipment standards, while patiently building a sustainable long-term competitiveness, according to Joran Mambir from J. Safra Sarasin Sustainable AM.