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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Asian Stocks Rise as Tech Shares Track Nvidia Rally, Japan's BOJ Signals Less Hawkish StanceAsian markets mostly advanced on Thursday, fueled by a surge in technology stocks that mirrored an overnight rally in Nvidia. Meanwhile, Japanese equities experienced a notable boost following a softer-than-expected producer inflation reading, which countered recent hawkish signals from the Bank of Japan.
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Asian benchmarks mostly decline as markets await Nvidia earningsAsian shares are trading mostly lower, despite a record high on Wall Street, as investors awaited a closely watched earnings report from Nvidia.
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Asian chip stocks fall after Nvidia sell-off on Wall Street overnightIn the U.S., chipmaker Nvidia plunged more than 9% in regular trading, leading semiconductor stocks lower amid a sell-off on Wall Street.
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Asian chipmaking stocks sink tracking Nvidia lossesAsian chipmaking stocks sink tracking Nvidia losses
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