MediaTek Shares Surge 19% in Two Days on Google AI Chip Tie-Up

MediaTek Inc. shares notched their best two-day rally on record, as investors flock to the Taiwanese chip designer on excitement over its tie-up with Google.

The Taipei-listed stock jumped 8.6% Monday, capping a two-session surge of 19% and closing at a fresh all-time high. That extended a two-month rally on growing awareness of MediaTek’s work on Google’s tensor processing units, which are chips used in AI applications.