Key Takeaways Nvidia and Broadcom shares surged Wednesday after Google parent Alphabet, a customer of both chipmakers, said it plans to ramp up spending on artificial intelligence. Alphabet said Tuesday that it plans to spend as much as $75 billion in capital expenditures this year,

Alphabet's big spending plans surprised Wall Street. The news should soothe investors worried about last week's DeepSeek shakeup disrupting the AI narrative.

Advanced Micro Devices (AMD) will release its fourth-quarter 2024 financial results on 4. As leading tech firms ramp up investments in custom chip development, industry analysts are questioning whether this shift will bolster companies like Broadcom while eroding AMD’s position in the AI infrastructure market.

Shares in the AI chip maker rose 5% Wednesday and was up again early Thursday as Big Tech's spending plans remained in focus.