Nvidia and ON Semiconductor Lead AI Chip Rally After Record Revenue and Platform Updates

Semiconductor stocks climbed to new highs as Nvidia and ON Semiconductor led a rally driven by investor enthusiasm for artificial intelligence infrastructure.

Nvidia reported record fiscal first-quarter 2027 revenue of $81.6 billion, with data center sales rising 92%. The performance reinforced the company’s central role in the AI computing buildout and helped lift broader sentiment across chip stocks.

The company’s upcoming Vera Rubin platform was also highlighted as a major future catalyst. It is projected to reduce AI inference costs by 90% and lower GPU requirements by 75% compared with Blackwell.

ON Semiconductor also posted significant gains, extending its year-to-date rise to 114%. Demand tied to AI data centers and electric vehicle silicon has helped support the company’s rally.

The item is part of developing May 28 technology coverage, which includes some reports from late May 27 tied to events affecting the current edition day.