Amkor Technology Inc. (NASDAQ:AMKR) shares are trending on Thursday night.
Shares of the Arizona-based chipmaker jumped 12.20% to $73.30 in Thursday’s after-hours session after the company announced a multi-year partnership with Nvidia (NASDAQ:NVDA) to develop advanced semiconductor packaging and test technologies for next-generation AI and accelerated computing platforms.
Deal Terms And Strategic Significance
Under the agreement, Nvidia will provide a prepayment to support the expansion of Amkor’s U.S. advanced packaging capacity in Arizona, complementing the company’s established manufacturing footprint across Asia.
According to the company’s Thursday announcement, Nvidia and Amkor will align their long-term roadmaps to advance technologies including high-density interconnects and next-generation heterogeneous integration.
Kevin Engel, CEO of Amkor Technology, said, “This strategic partnership with NVIDIA underscores the central role advanced packaging plays in enabling the future of AI.”
Earnings On Deck
Amkor is scheduled to report second-quarter 2026 financial results after market close on Monday.
In the previous quarter reported in May, the company reported revenue and earnings per share both better than analyst expectations. Revenue beat estimates by 1.98% and topped EPS by 37.50%.
Trading Metrics, Technical Analysis
Amkor has a market capitalization of $16.19 billion, a 52-week high of $96.66 and a 52-week low of $20.87.
The Relative Strength Index (RSI) of AMKR stands at 43.11.
On Wednesday, B. Riley Securities (NASDAQ:RILY) maintained a Neutral rating on Amkor while lowering its price target from $90 to $75.
The mid-cap stock of the tech company has gained 203.58% over the past 12 months.
AMKR is currently positioned at 58.66% of its 52-week trading range.
Price Action: The stock had closed on Thursday at $65.33, down 2.45%, according to Benzinga Pro data.
With a strong Momentum score in the 96th percentile, Benzinga's Edge Stock Rankings show that AMKR is seeing short-term consolidation, while maintaining a long-term and medium-term upward trend.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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