Nvidia AI Chip Partnership Adds Fuel to MediaTek’s Share Rally
- The shares have more than doubled in two years with AI push
- MediaTek’s expertise ‘complements Nvidia’s capabilities’: BofA
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Increased collaboration with Nvidia Corp. has pushed investor optimism over the AI growth potential for MediaTek Inc. to a new level, putting its shares on track for their first record high in seven months.
The stock climbed to within a whisker of its June peak this week after the Taiwanese chip designer announced a tie-up with Nvidia on an AI personal computer chip. On top of the companies’ existing partnership in automotive tech, the news helped fueled expectations for further gains in the shares after they more than doubled in the past two years.