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,

The semiconductor manufacturer’s shares were rising early Thursday after positive news from the tech giant when it reported earnings.

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

A slew of stocks, including chip maker Nvidia, fell Monday after Chinese startup DeepSeek released an AI model that runs on less-advanced chips and at a lower cost than U.S. rivals.

Nvidia was gaining early on Wednesday after Google parent Alphabet committed to spending on artificial-intelligence infrastructure and rival Advanced Micro Devices’ AI chip revenue disappointed. Nvidia shares were up 3.