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(Bloomberg) — Asian chip stocks extended gains as Nvidia Chief Executive Jensen Huang unveiled new products featuring the company’s Blackwell chips at the CES trade 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. and Lasertec Corp. each by 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 as much as 3.1%.
The CEO also said that automaker Toyota Motor Corp. will be a customer for Nvidia’s AI products for autonomous driving. Shares of Toyota rose as much as 3.9% following 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 Tokyo time, shortly after Nvidia shares hit an all-time high. In his speech, he introduced new graphics cards for gaming PCs based on Nvidia’s Blackwell chip design and other software designed to help companies develop autonomous driving and robotic AI.
Huang’s speech further fueled the boost technology-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 revenue growth last quarter.
“There was some great AI-supporting news at the start of the year,” said Andrew Jackson, analyst at Ortus Advisors Pte. Japanese chip device makers were particular winners in the ongoing tech rally as many sold heavily during year-end positioning adjustments, supporting momentum plays, he said. “It looks like semiconductor production facilities have legs here.”
Japanese chip packaging substrate maker Ibiden Co., which supplies Nvidia, will likely reap big benefits from Huang’s desire to “launch Blackwell at scale,” Jackson added. Shares of Ibiden rose as much as 7.7% on Tuesday, their highest since November 5.
– With support from Vlad Savov, Kurt Schussler and Catherine Ngai.
(Updates with Toyota announcement from Huang’s CES keynote)
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