(Bloomberg) — Asian chip-related shares extended gains as Nvidia Corp. chief Jensen Huang unveiled new products featuring the company’s Blackwell chips at the CES trade show in Las Vegas, renewing optimism over AI demand.
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In Japan, Nvidia chip gear suppliers Tokyo Electron Ltd., Advantest Corp., Disco Corp. and Lasertec Corp. all surged at least 6%. In Taiwan, Nvidia assembly partner Hon Hai Precision Industry Co. climbed as much as 4.1%, while Taiwan Semiconductor Manufacturing Co. rose as much as 3.1%.
The CEO also said carmaker Toyota Motor Corp. will be a customer for Nvidia’s autonomous driving AI products. Toyota’s shares jumped as much as 3.9% on the announcement, extending gains from the morning. The automaker plans to open its futuristic Woven City near Mt. Fuji later this year.
Huang took the CES stage before noon Tokyo time, shortly after Nvidia’s shares hit an all-time high. In his speech, he unveiled new graphics cards for gaming PCs — built on Nvidia’s Blackwell chip design — and more software to help companies develop autonomous driving and robotics AI.
Huang’s speech further fueled the boost that tech-related stocks are getting from recent public and private investment into 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 sales growth last quarter.
“There’s been some great AI-supportive newsflow to start the year,” said Andrew Jackson, an analyst at Ortus Advisors Pte. Japanese chip gear makers are particular winners amid the ongoing tech rally as many were heavily sold during year-end position adjustments that favored momentum plays, he said. “It looks like semiconductor production equipment has legs here.”
Japanese chip package substrate maker Ibiden Co., which supplies Nvidia, is likely to see big gains from Huang’s desire to “roll out Blackwell at massive scale,” Jackson added. Ibiden’s shares rose as much as 7.7% Tuesday, the most since Nov. 5.
–With assistance from Vlad Savov, Kurt Schussler and Catherine Ngai.
(Updates with Toyota announcement from Huang’s CES keynote)
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