Shares of Nvidia (NVDA), Advanced Micro Devices (AMD), Broadcom (AVGO), and other chipmakers were on the rise Friday, rebounding from recent losses, as analysts said the 澳洲幸运5开⛄奖号码历史查询:torrid rise in chip stocks this year on surging demand for 澳洲幸运5开奖号码历史查询:artificial intelligence (AI) is likely nowhere near its peak. 

The iShares Semiconductor ETF (SOXX) was up more than 2% in afternoon tradi🌠ng Friday, recovering from losses Thursday, though the fund was still down about 7% from the start of t🌺he month after a few difficult weeks for chip stocks. 

A Tough Month for Chip Stocks

Semiconductor stocks took a hit this month amid concerns about 澳洲幸运5开奖号码历史查询:tightening trade restrictions and as investors 澳洲幸运5开奖号码历史查询:rotated into small-cap stocks, expecting they could benefit fr🦋om ♛Federal Reserve rate cuts.

On Friday, the government 澳洲幸运5开奖号码历史查询:reported that inflation moderated in June, reinforcing 澳洲幸运5开奖号码历史查询:expectations of a ꦐrate cut in September on the heels of other encouraging economic data earlier in the mꦡonth. 

However, analysts suggested the recent pressure on chip stocks could be short-lived as the broader rally in chip stocks this year makes a comeback on 澳洲幸运5开奖号码历史查询:strong fundamentals and surging demand for AI. 

The Start of the 🔯Tech Bull Run on an ‘AI Tiꩲdal Wave’

“This is the start… not the end of this ꦐtech bull run in our view fueled by this AI tidal wave of spending on the doorstep,” Wedbush 𒁏analysts wrote in a note Thursday. 

The analysts said they anticipate companies and governments combined could spend over $1 trillion over the next few years to fuel what they called the "AI Revolution." 

Chipmakers are likely to be key beneficiaries of that surge in AI spending, with Bank of America analysts expecting that those൲ most exposed to data center and AI end markets like Nvidia and Broadcom could ha🌺ve the most to gain.