Nvidia’s Strong Delivery on AI Jumpstarts Asian Chip Stock Rally
- Bloomberg Asia Pacific Semiconductors Index climbs about 3%
- SK Hynix, Advantest jump more than 5% each; TSMC gains 2%
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Asian semiconductor stocks got a fresh boost from a stellar set of results at Nvidia Corp., the standard bearer of the artificial intelligence theme that propelled gains in the sector earlier this year.
The Bloomberg Asia Pacific Semiconductors Index climbed nearly 3%, the most since July 11. A trio of Nvidia suppliers seen as among the region’s biggest beneficiaries of the AI boom boosted the gauge, with South Korea’s SK Hynix Inc. and Japan’s Advantest Corp. each jumping more than 5% and Taiwan Semiconductor Manufacturing Co. rising about 2%.