Chip stocks surged in intraday trading Monday after Taiwan's Foxconn posted record fourth-quarter revenue, driven by the boom in artificial intelligence (AI) demand.

Chip stocks including Nvidia, Micron, and ASML surged on Monday after Foxconn reported record fourth quarter revenue, pointing to strong AI demand.

Taiwan's Foxconn, the world's largest contract electronics maker, beat expectations to post its highest-ever revenue for the fourth quarter on continued strong demand for artificial intelligence (AI) servers.

The S&P 500 added 0.6% on Monday, Jan. 6, led by a surge in semiconductor stocks as the first full week of the new year got underway.

Global semiconductor stocks climbed on Monday after Foxconn posted record fourth-quarter revenue, suggesting the AI boom has far more room to run.