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.

Multiple analysts saw Monday’s sharp semiconductor pullbacks as overdone. One said they could prove “a buying opportunity in hindsight once the dust settles.”

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.

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