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. Asia's semiconductor and associated stocks rose on Wednesday after chipmaker Nvidia became the world's most valuable company, riding the AI boom.Taiwan Semiconductor Manufacturing Corp

TSMC manufactures Nvidia's high-performance graphics processing units that help power large language models — machine learning programs that can recognize and generate texts.Nvidia's value chain also extends to South Korea, namely, memory chip maker SK Hynix and conglomerate Samsung Electronics., which are used in AI chipsets. Until March, the company was the sole known supplier of HBM chips to Nvidia, Reuters reported.

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