Nvidia Leads Chip Stocks Higher on Meta’s Planned Tech Binge
- Nvidia and Marvell Technology gain more than 3% postmarket
- Meta sees spending rising to as much as $39 billion in 2023
A Nvidia Corp. semiconductor chip.
Photographer: I-Hwa Cheng/BloombergThis article is for subscribers only.
Buried in a gloomy earnings report from Meta Platforms Inc. was a bit of good news -- just not for the Facebook parent company.
The shares of companies that supply data centers gained after Meta Platforms said it’s planning to spend even more on components next year as it invests in infrastructure to support its push into digitally immersive experiences.