Investing.com-- Asian chipmaking stocks rose on Thursday, tracking an overnight rally in Nvidia after CEO Jensen Huang offered encouraging comments on artificial intelligence-driven demand.) rose 1.4% after Reuters reported the firm was considering a slew of global job cuts of up to 30% in some of its divisions.
But the stock was still trading up about 150% so far in 2024, having seen a stellar rally on hype over AI-fueled demand. Huang said that companies could not escape the need for higher processing power, flagging increased chip demand from higher computing and data center requirements.
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