US Stock Market Move | United Microelectronics Corp. Sponsored ADR(UMC.US) rose nearly 6% and will begin selectively raising prices in the second half of the year.
Following the more than 15% increase in stock price yesterday, on Wednesday, UMC (UMC.US) rose nearly 6% again, reaching $22.32.
Following a more than 15% surge in stock price yesterday, on Wednesday, United Microelectronics Corp. Sponsored ADR(UMC.US) rose nearly 6% again, reaching $22.32. According to reports, United Microelectronics Corp. Sponsored ADR held its annual shareholder meeting on Wednesday, where CFO Liu Qidong stated that with the expansion of the Singapore factory, costs are higher and facing significant challenges. The company plans to selectively raise prices in the second half of this year, and will hold more comprehensive discussions with customers on price adjustments by 2027.
In addition, NVIDIA Corporation CEO Jensen Huang announced on Wednesday that NVIDIA Corporation's annual spending in Taiwan will increase from the current $100 billion to $150 billion, compared to just $10 billion to $15 billion four to five years ago. The latest quarterly data shows that NVIDIA Corporation's revenue from Taiwan grew by over 50% year-on-year.
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