(Bloomberg) — Asian chip-related stocks extended gains as Nvidia Corp. chief Jensen Huang unveiled new products including the company’s Blackwell chips at the CES show in Las Vegas, renewing his optimism about demand for AI.
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In Japan, chip suppliers Nvidia, Tokyo Electron Ltd., Advantest Corp., Disco Corp. and Lasertec Corp., all jumped at least 6%. In Taiwan, Nvidia assembly partner Hon Hai Precision Industry Co. climbed 4.1%, while Taiwan Semiconductor Manufacturing Co. rose 3.1%.
The CEO also said that automaker Toyota Motor Corp. reportedly a customer of Nvidia’s self-driving AI products. Shares of Toyota jumped as much as 3.9% following the announcement, extending their gains from the morning. The automaker plans to open its futuristic woven city near Mount Fuji later this year.
Huang took the stage at CES before noon Tokyo time, shortly after Nvidia shares hit a record high. In his speech, he unveiled new graphics cards for gaming PCs – built on Nvidia’s Blackwell chip design – as well as other software to help companies develop autonomous driving and robotic AI.
Huang’s speech further fueled the boost that tech-related stocks are receiving from recent public and private investments in AI infrastructure. Microsoft Corp. last week announced plans to spend $80 billion on AI data centers this year, while Hon Hai reported better-than-expected sales growth last quarter.
“There has been some great AI news to start the year,” said Andrew Jackson, an analyst at Ortus Advisors Pte. Japanese chip gear makers are particularly winning amid the ongoing tech rally, as many were sold off heavily during year-end position adjustments that favored momentum games, he said. -he declared. “It seems that semiconductor production equipment has legs here.”
Japanese chip package substrate maker Ibiden Co., which supplies Nvidia, stands to benefit big from Huang’s desire to “deploy Blackwell at scale,” Jackson added. Ibiden shares rose 7.7% on Tuesday, their highest level since November 5.
–With the help of Vlad Savov, Kurt Schussler and Catherine Ngai.
(Updated with Toyota’s announcement during Huang’s CES keynote)
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