Asian semiconductor stocks surge after Nvidia posts stellar second-quarter results

Most notably, Nvidia's performance was driven by its data center business, which includes the A100 and H100 AI chips that are needed to build and run artificial intelligence applications like ChatGPT., which manufactures all of Nvidia's advanced AI chips, climbed as much as 1.81% on Thursday, while counterpart Samsung Electronics gained as much as 2.24%.

In an Aug. 21 note, Morgan Stanley analysts estimated that TSMC will generate 6% of revenue from AI-related semiconductors in 2023. The team also expects Nvidia to see a 50% compounded annual growth rate in the segment for the next five years, adding that it views the company's outlook guidance"as a near-term share price catalyst [for TSMC]."

Other stocks in the broader semiconductor sector also rose with South Korean memory chip maker SK Hynix surging as high as 6.29% above its last close.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Asian shares are mixed ahead of Fed Chair speech and Nvidia earningsAsian markets are trading mixed ahead of Fed Chair Jerome Powell’s highly anticipated speech later in the week.
Source: AP - 🏆 728. / 51 Read more »

Asian stocks muted, tech mixed ahead of Nvidia earnings By Investing.comAsian stocks muted, tech mixed ahead of Nvidia earnings
Source: Investingcom - 🏆 450. / 53 Read more »

Nvidia’s Asian suppliers dip ahead of Q2 earnings, AI demand in focus By Investing.comNvidia’s Asian suppliers dip ahead of Q2 earnings, AI demand in focus
Source: Investingcom - 🏆 450. / 53 Read more »

Nvidia Stock Sold By Cathie Wood Ahead of Earnings, Buys More Zoom SharesThe investor's ARK Innovation Fund dumped the stock in January, missing out on most of the chip maker's meteoric 212% rise so far in 2023.
Source: MarketWatch - 🏆 3. / 97 Read more »

Nvidia stock rises ahead of results, AMC shares slump and other stocks on the move.Nvidia, Novavax and AMC Entertainment are among the stocks in the spotlight.
Source: MarketWatch - 🏆 3. / 97 Read more »

Nvidia Stock Sold By Cathie Wood Ahead of Earnings, Buys More Zoom SharesThe investor's ARK Innovation Fund dumped the stock in January, missing out on most of the chip maker's meteoric 212% rise so far in 2023.
Source: MarketWatch - 🏆 3. / 97 Read more »