(Bloomberg) — Asian chip stocks extended gains as Nvidia Corp. chief Jensen Huang unveiled new products featuring the company’s Blackwell chips at the CES trade show in Las Vegas, renewing optimism about demand of AI.
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In Japan, chip equipment suppliers Nvidia, Tokyo Electron Ltd., Advantest Corp., Disco Corp. and Lasertec Corp. rose at least 6%. In Taiwan, Hon Hai Precision Industry Co., Nvidia’s assembly partner, rose as much as 4.1%, while Taiwan Semiconductor Manufacturing Co. rose as much as 3.1%.
The CEO also said automaker Toyota Motor Corp. will be a customer of Nvidia’s self-driving AI products. Toyota shares rose as much as 3.9% following the announcement, extending morning gains. 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 stock hit an all-time high. In his speech, he unveiled new graphics cards for gaming PCs, based on Nvidia’s Blackwell chip design, and more software to help companies develop autonomous driving and artificial intelligence robotics.
Huang’s speech further fueled the boost that technology-related stocks are receiving thanks to recent public and private investment in AI infrastructure. Microsoft Corp. last week announced plans to spend $80 billion on artificial intelligence data centers this year, while Hon Hai reported better-than-expected sales growth last quarter.
“There has been a huge flow of news supporting AI to start the year,” said Andrew Jackson, analyst at Ortus Advisors Pte. Japanese chip equipment makers are particularly winners amid the current tech rally, as many sold off heavily during year-end position adjustments that favored momentum plays, he said. “It seems that semiconductor production equipment has legs here.”
Japanese chip package substrate maker Ibiden Co., which supplies Nvidia, is likely to reap big profits from Huang’s desire to “deploy Blackwell on a massive scale,” Jackson added. Ibiden shares rose as much as 7.7% on Tuesday, the biggest rise since November 5.
–With the help of Vlad Savov, Kurt Schussler and Catherine Ngai.
(Updates with Toyota’s announcement from Huang’s CES keynote)
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