Google and Nvidia stocks rise while Meta and TSMC fall after Trump's election victory

The majority of Big Tech stocks rose on Wednesday after former President Donald Trump won re-election against Democratic nominee Kamala Harris.

Google (GOOGL+4.01%) Shares of parent company Alphabet rose over 3% after the market opened, while Amazon (AMZN+3.86%) shares rose over 2%, hitting a record intraday high since a peak in July. Microsoft (MSFT+2.15%) and Apple (AAPL-0.35%) shares rose minimally by around 1% and 0.2%, respectively.

Meta (META-0.08%) was the only Big Tech company to see its shares decline; they fell by about 1.3%.

Chip manufacturer Nvidia (NVDA+4.08%) shares rose 2.7% on Wednesday, increasing its market capitalization to $3.53 trillion to maintain its place as the world's most valuable publicly traded company. Apple is close behind at $3.41 trillion.

U.S.-listed shares of Taiwan Semiconductor Manufacturing Company fell about 3% on Wednesday. The chip manufacturer counts the US-based companies Nvidia and Apple among its main customers. But in an appearance on “The Joe Rogan Experience” podcast before the election, Trump said accused Taiwan of stealing from the US chip industry. The president-elect also said he would impose tariffs on Taiwan's chips and chips This is called the Biden administration’s “US Chips and Science Act.” “So bad.”

Intel (INTC+7.63%), that is awaits the largest chip act package (nearly $20 billion in financing and loans) saw its shares rise over 4% on Wednesday.

Meanwhile the Dow Jones Industrial Average climbed by more than 1,300 points at market open, while the S&P 500 index rose 1.9% and Nasdaq futures gained 1.8%. Before Trump was declared the winner, Bitcoin reached an all-time high over $75,000 on Tuesday evening.