Asia Chip Gauge Rises to Three-Year High on Strong Nvidia Report
Posted on AllSides May 22nd, 2024
From The Left
An index of Asian chip-related stocks rose to the highest level in over three years as the latest bullish sales forecast from Nvidia Corp. provided a fresh tailwind for the artificial intelligence trade.
The Bloomberg Asia Pacific Semiconductors Index climbed as much as 1.7% to its highest level since February 2021, erasing an April pullback. Among major Nvidia suppliers, Taiwan Semiconductor Manufacturing Co. gained as much as 1.5% to a record high.
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