Asian chip firms’ shares lifted by Nvidia forecast
HONG KONG - Shares of Asian chip firms rallied on Thursday following more blockbuster earnings from Nvidia that eased worries over the AI investment boom, though the euphoria was tempered by US data showing stubbornly high inflation.
Asian chip firms saw their shares rise as Nvidia reported unexpectedly strong second-quarter earnings and forecast further growth. The tech giant, which supplies AI chips to major firms like OpenAI, Amazon, Microsoft and xAI, reported revenues more than double on-year and said it expects another surge in the July-September quarter.
This forecast eased investor concerns about when the massive cash poured into the AI sector will generate meaningful returns. Nvidia CEO Jensen Huang stated that the AI infrastructure buildout is at full speed, while an analyst praised the company for revealing that AI demand remains supply-constrained. Shares in other Asian chipmakers, including SK hynix, Samsung, Kioxia and Taiwan's TSMC, also climbed following Nvidia's positive outlook.
However, global markets faced a subdued performance, with inflation in the U.S. remaining at a three-year high and GDP growth in the second quarter at 1.5%, in line with forecasts.
Written by urgent.news from Bangkok Post Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
