(Bloomberg) — Asian chip-related stocks rose further as Nvidia Corp. chief Jensen Huang unveiled new products featuring the company’s Blackwell chips at the CES show in Las Vegas, renewing optimism about AI demand.
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In Japan, Nvidia chip equipment suppliers Tokyo Electron Ltd., Advantest Corp., Disco Corp. rose. and Lasertec Corp. all with at least 6%. In Taiwan, Nvidia assembly partner Hon Hai Precision Industry Co. rose. as much as 4.1%, while Taiwan Semiconductor Manufacturing Co. rose no less than 3.1%.
The CEO also said that automaker Toyota Motor Corp. will be a customer for Nvidia’s autonomous driving AI products. Shares of Toyota rose as much as 3.9% after the announcement, extending gains from the morning. The automaker plans to open its futuristic Woven City near Mount Fuji later this year.
Huang took the CES stage before noon in Tokyo, shortly after Nvidia’s shares hit a record high. In his speech, he unveiled new graphics cards for gaming PCs – built on Nvidia’s Blackwell chip design – and more software to help companies develop autonomous driving and robotics AI.
Huang’s speech further fueled the boost tech-related stocks are receiving from recent public and private investments in AI infrastructure. Microsoft Corp. announced plans last week to spend $80 billion on AI data centers this year, while Hon Hai reported better-than-expected revenue growth last quarter.
“There has been a great AI-enabled news flow to start the year,” said Andrew Jackson, analyst at Ortus Advisors Pte. Japanese chip equipment makers are particular winners amid the ongoing tech rally as many were sold heavily during year-end position adjustments that helped momentum, he said. “It looks like semiconductor manufacturing 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 “widely deploy Blackwell,” Jackson added. Shares of Ibiden rose as much as 7.7% on Tuesday, the highest level since November 5.
–With help from Vlad Savov, Kurt Schussler and Catherine Ngai.
(Updates with Toyota announcement from Huang’s CES keynote)
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