By David Moadel
Publication Date: 2026-10-05 19:12:00
Foxconn just posted its strongest month on record and NVIDIA stock touched a fresh all-time high, but one market veteran warns the biggest AI spending bonfire may still be ahead, raising the question of whether this rally has legs or…
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A key Taiwanese supplier’s best month ever has handed NVIDIA (NASDAQ:NVDA | NVDA Price Prediction) a fresh artificial intelligence (AI) demand signal, and the chip designer’s record rally now has to answer whether orders can keep outpacing price. In afternoon trading, NVIDIA stock is up 2% to $238.30, a level that marks an all-time high. Moreover, shares of NVIDIA are up 28% year to date.
Also climbing is Taiwan Semiconductor Manufacturing (NYSE:TSM) stock, up 3% to $486.71, a reminder that the foundry builds NVIDIA’s leading-edge chips. At the same time, Broadcom (NASDAQ:AVGO) stock is rising 2% to $362.52, extending the advance into the custom AI accelerator and networking slice of the market.
The broader chip basket is lagging that trio, with the iShares Semiconductor ETF (NASDAQ:SOXX) practically unchanged. Meanwhile, the Invesco QQQ Trust (NASDAQ:QQQ) is up 0.8%, a sign that large-cap tech is firm while the semiconductor fund stalls.
What Foxconn’s Record Month Says About NVIDIA
Foxconn, the Taiwanese contract manufacturer also known as Hon Hai Precision Industry, reported September…
