NXP Gains 5% as Volkswagen Takes “A More Active Role” in Chips With NXP Partnership

Key TakeawaysNXP Semiconductors stock rose 5% today after Volkswagen chose NXP’s S32K5 microcontrollers as a building block of its future vehicle architecture. The chips will go into the architecture Volkswagen is building with Rivian, across all of Volkswagen Group’s brands, and the first vehicle is planned for 2027.