{"id":76251,"date":"2024-09-12T09:00:10","date_gmt":"2024-09-12T09:00:10","guid":{"rendered":"http:\/\/guid_108032973"},"modified":"2024-09-12T09:00:10","modified_gmt":"2024-09-12T09:00:10","slug":"asian-chip-related-stocks-rally-on-renewed-ai-optimism-after-nvidia-ceo-comments","status":"publish","type":"post","link":"https:\/\/wp.timesamerica.net\/asian-chip-related-stocks-rally-on-renewed-ai-optimism-after-nvidia-ceo-comments\/","title":{"rendered":"Asian chip-related stocks rally on renewed AI optimism after Nvidia CEO comments"},"content":{"rendered":"\n<div><img decoding=\"async\" src=\"https:\/\/wp.timesamerica.net\/wp-content\/uploads\/2024\/09\/asian-chip-related-stocks-rally-on-renewed-ai-optimism-after-nvidia-ceo-comments.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div class=\"RelatedQuotes-relatedQuotes\" id=\"RegularArticle-RelatedQuotes\">\n<div class=\"RelatedQuotes-quotesContainer\">\n<div class=\"RelatedQuotes-titleAndTime undefined\">\n<p class=\"RelatedQuotes-text\">In this article<\/p>\n<\/div>\n<ul class=\"RelatedQuotes-list\">\n<li class=\"QuoteItem-item\" aria-label=\"Quote for null\"><span class=\"waslinkname\"><span class=\"QuoteItem-symbol\">6857.T-JP<\/span><\/span><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"RegularArticle-WatchlistDropdown\" data-analytics-id=\"RegularArticle-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/li>\n<li class=\"QuoteItem-item\" aria-label=\"Quote for null\"><span class=\"waslinkname\"><span class=\"QuoteItem-symbol\">NVDA<\/span><\/span><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"RegularArticle-WatchlistDropdown\" data-analytics-id=\"RegularArticle-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/li>\n<li class=\"QuoteItem-item\" aria-label=\"Quote for null\"><span class=\"waslinkname\"><span class=\"QuoteItem-symbol\">9984.T-JP<\/span><\/span><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"RegularArticle-WatchlistDropdown\" data-analytics-id=\"RegularArticle-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/li>\n<li class=\"QuoteItem-item\" aria-label=\"Quote for null\"><span class=\"waslinkname\"><span class=\"QuoteItem-symbol\">2317-TW<\/span><\/span><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"RegularArticle-WatchlistDropdown\" data-analytics-id=\"RegularArticle-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/li>\n<li class=\"QuoteItem-item\" aria-label=\"Quote for null\"><span class=\"waslinkname\"><span class=\"QuoteItem-symbol\">2330-TW<\/span><\/span><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"RegularArticle-WatchlistDropdown\" data-analytics-id=\"RegularArticle-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/li>\n<\/ul>\n<\/div>\n<div class=\"RelatedQuotes-cfaButtonContainer\"><button id=\"ArticlePageTickerCreateAccountButton\" class=\"CreateFreeAccountButton-buttonContainer\"><span class=\"CreateFreeAccountButton-buttonText\"><span>Follow your favorite stocks<\/span><span class=\"CreateFreeAccountButton-buttonTextBold\">CREATE FREE ACCOUNT<\/span><\/span><\/button><\/div>\n<\/div>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-108032992\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div class=\"InlineImage-imagePlaceholder\" style=\"padding-bottom:55.55555555555556%\">\n<div style=\"height:100%\" class=\"lazyload-placeholder\"><\/div>\n<\/div>\n<div>\n<div class=\"InlineImage-imageEmbedCaption\">Jensen Huang, co-founder and chief executive officer of Nvidia Corp., speaks during an event in Taipei, Taiwan, on Sunday, June 2, 2024.&nbsp;<\/div>\n<div class=\"InlineImage-imageEmbedCredit\">Annabelle Chih | Bloomberg | Getty Images<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Asian chipmaking heavyweights extended Wall Street&#8217;s rally as <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\"><span class=\"waslinkname\">Nvidia<\/span><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> CEO Jensen Huang made <span class=\"waslinkname\">bullish comments about the AI darling&#8217;s outlook<\/span>.<\/p>\n<p>The founder of the artificial intelligence chip powerhouse discussed his views on the company&#8217;s moat, its rivals and supply chain at <span class=\"waslinkname\">Goldman Sachs Communacopia + Technology Conference<\/span> in San Francisco. Nvidia shares rallied 8% Wednesday as Huang described the demand for the company&#8217;s products as &#8220;so great&#8221; that it &#8220;is really emotional for people.&#8221;<\/p>\n<div style=\"height:100%\" class=\"lazyload-placeholder\"><\/div>\n<p>&#8220;We have a lot of people [on] our shoulders, and everybody&#8217;s counting on us,&#8221; he said.<\/p>\n<p>Stocks tied to Nvidia suppliers and semiconductor related companies rallied in Asia as the bullish investor sentiment spilled over.<\/p>\n<p>Contract chip manufacturer <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-4\"><span class=\"waslinkname\">Taiwan Semiconductor Manufacturing Corp<\/span><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> jumped as much as 5% and <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-5\"><span class=\"waslinkname\">Hon Hai Precision Industry<\/span><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> \u2014 known internationally as Foxconn \u2014 gained over 4%.<\/p>\n<p>Huang also gave credit to supplier TSMC for Nvidia&#8217;s success, calling it &#8220;the world&#8217;s best&#8221; and &#8220;not by a small margin.&#8221;<\/p>\n<p>Japanese chip-related stocks also soared, including semiconductor testing equipment supplier <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-6\"><span class=\"waslinkname\">Advantest<\/span><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> which gained over 9%. <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-7\"><span class=\"waslinkname\">Tokyo Electron<\/span><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> and <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-8\"><span class=\"waslinkname\">Renesas Electron<\/span><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> rose 4.6% and 3%, respectively.<\/p>\n<div style=\"height:100%\" class=\"lazyload-placeholder\"><\/div>\n<p>Japanese technology conglomerate <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-9\"><span class=\"waslinkname\">SoftBank Group<\/span><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span>, which owns a stake in chip designer <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-10\"><span class=\"waslinkname\">Arm<\/span><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span>, jumped over 7%.<\/p>\n<p>The investor optimism also extended to South Korea, namely, Samsung Electronics and SK Hynix \u2014 the world&#8217;s two largest memory chip makers \u2014 soared 2% and 7.5%, respectively.<\/p>\n<\/div>\n<div style=\"height:400px\" class=\"lazyload-placeholder\"><\/div>\n<div class=\"group\">\n<p>Nvidia dominates the AI chip market, but Huang said Wednesday that the rise of artificial intelligence is broader than just semiconductors.<\/p>\n<p>&#8220;The first thing is to remember that AI is not about a chip. AI is about an infrastructure,&#8221; Huang said, adding that computing today is far more complex than just making a chip and putting it in a computer, &#8220;that&#8217;s really kind of 1990s.&#8221;<\/p>\n<p>He explained that Nvidia is part of an ecosystem that includes cloud service providers and developers in this &#8220;first wave of GenAI.&#8221;<\/p>\n<p>Huang also noted that the Asian supply chain is &#8220;really diverse and really interconnected&#8221; when asked about how Nvidia is weighing geopolitical headwinds in the region. He said Nvidia, &#8220;in the event anything were to happen, we should be able to pick up and fab it somewhere else.&#8221;<\/p>\n<p>Nvidia shares have skyrocketed 136% so far this year amid continued investor enthusiasm, despite <span class=\"waslinkname\">the 10% single-day plunge<\/span> earlier this month that wiped out nearly $300 billion off its market value.<\/p>\n<\/div>\n<div id=\"ArticleBody-MobileAdhesion\" class=\"MobileAdhesion-container\" data-module=\"mps-slot\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>In this article 6857.T-JP NVDA 9984.T-JP 2317-TW 2330-TW Follow your favorite stocksCREATE FREE ACCOUNT Jensen Huang, co-founder and chief executive officer of Nvidia Corp., speaks during an event in Taipei, Taiwan, on Sunday, June 2, 2024.&nbsp; Annabelle Chih | Bloomberg | Getty Images Asian chipmaking heavyweights extended Wall Street&#8217;s rally as Nvidia CEO Jensen Huang &hellip;<\/p>\n","protected":false},"author":1,"featured_media":76252,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-76251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bussiness","has-thumb","has-featured"],"_links":{"self":[{"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/posts\/76251"}],"collection":[{"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/comments?post=76251"}],"version-history":[{"count":0,"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/posts\/76251\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/media\/76252"}],"wp:attachment":[{"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/media?parent=76251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/categories?post=76251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/tags?post=76251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}