During a recent AI summit in Washington, D.C., President Donald Trump introduced his administration’s long-anticipated AI Action Plan, a comprehensive strategy aimed at strengthening the United States’ global leadership in artificial intelligence.

Nvidia CEO Jensen Huang noted the connection between energy policy and AI leadership, saying Trump's pro-energy stance as essential for America's artificial intelligence future.

The leaders of America’s chip giants cheered the president’s artificial intelligence orders, which could help boost the domestic semiconductor industry.

The South Korean memory-chip maker plans to increase spending this year to meet strong demand for AI chips that helped it achieve a record second quarter.

SK Hynix flagged plans to lift spending this year on advanced chipmaking after posting a record quarterly profit on Thursday, boosted by strong demand for artificial intelligence chips and customers stockpiling ahead of potential U.

Revenue rose over 35% in the June quarter compared with the same period a year earlier, while operating profit jumped nearly 69%, year on year.