Nvidia rally overnight lifts chip-related stocks in Asia on AI optimism

Asia's chip-related stocks that play a role in the semiconductor value chain rose after Nvidia's rallied overnight.

Nvidia climbed 3.6% on Tuesday, lifting the company's market cap to $3.34 trillion, surpassing Microsoft, which is now valued at $3.32 trillion. A logo of Taiwan Semiconductor Manufacturing Company is seen during the TSMC global RnD Center opening ceremony in Hsinchu on July 28, 2023. Asia's semiconductor and associated stocks rose on Wednesday after chipmaker Nvidia became the world's most valuable company, riding the AI boom.TSMC manufactures Nvidia's high-performance graphics processing units that help power large language models — machine learning programs that can recognize and generate texts.

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