A man wearing a mask walks past the Nvidia sign in Taipei, Taiwan.
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Asian chip stocks rise on Tuesday NVIDIA Prices closed at a record high overnight as the chip company continues to ride the massive artificial intelligence wave.
Shares linked to Nvidia suppliers and other chip companies rose in Asia as bullish investor sentiment spread. Shares of South Korean chipmaker SK Hynix, which produces high-bandwidth memory chips for Nvidia for artificial intelligence applications, surged 2.5%.
Samsung Electronics, Expected to produce HBM wafers Nvidia’s select products rose 0.5%.
British Semiconductor and Hon Hai Precision Industry Shares of the company known internationally as Foxconn, which is part of Nvidia’s supply chain, rose about 2% and 2.5%, respectively.
Investor optimism has also generally spread to chip-related stocks. Japan Semiconductor Manufacturing Company Tokyo Electronics Soared 5%, detection equipment supplier Advant test up 3.6% Renesas Electronics An increase of more than 4%.
Japan Technology Group SoftBank Groupowns shares in chip design company arman increase of 6.4%.
rise to prominence
Overnight on Wall Street, NVIDIA The stock price rose 2.4% to close at $138.07, surpassing the high of $135.58 on June 18. Raising its market capitalization to $3.4 trillionStep down Microsoft As Wall Street’s second most valuable company apple.
Nvidia shares soared on Monday as Wall Street entered earnings season. Most of the chipmakers’ top customers have Announce technology and products This requires a significant investment in Nvidia graphics processing units (GPUs).
Big US tech companies Microsoft, Meta, Google and Amazon have been buying up Nvidia’s GPUs in large quantities to build growing clusters of computers for their advanced artificial intelligence work. The companies will report quarterly results at the end of October.
NVIDIA stock price surges rapidly help it recover Previous losses were as follows The company made a profit in the second quarter. Nvidia’s stock price fell in late August even though its profit beat analysts’ expectations and its gross margin fell.
Nvidia shares have risen nearly 180% this year.
