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 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.