July 21, 2024

MediaBizNet

Complete Australian News World

Nvidia’s overnight rise lifts chip-related stocks in Asia amid AI optimism

Nvidia’s overnight rise lifts chip-related stocks in Asia amid AI optimism

The Taiwan Semiconductor Manufacturing Company (TSMC) logo is seen during the opening ceremony of TSMC’s Global RnD Center in Hsinchu on July 28, 2023. (Photo by Amber Wang/AFP)

Amber Wang | AFP | Getty Images

Shares of semiconductor and related stocks rose in Asia on Wednesday after chipmaker Nvidia became the world’s most valuable company, benefiting from the artificial intelligence boom.

Nvidia stock rose 3.6% on Tuesday, pushing the company’s market cap to $3.34 trillion, surpassing Microsoft, which is now worth $3.32 trillion.