Asia Chip shares rise as Nvidia showcases new AI products at CES

(Bloomberg) — Asian chip-related stocks extended gains as Nvidia Corp. Chairman Jensen Huang unveiled new products featuring the company’s Blackwell chips at the CES trade show in Las Vegas, renewing optimism about demand for artificial intelligence.

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In Japan, shares of chip equipment makers Nvidia Tokyo Electron Ltd., Advantest Corp., Disco Corp. and Lasertec Corp. rose. By at least 6%. In Taiwan, Nvidia’s assembly partner Hon Hai Precision Industry rose as much as 4.1%, while Taiwan Semiconductor Manufacturing Co rose as much as 3.1%.

The CEO also said that automaker Toyota Motor Corp will be a customer of Nvidia’s self-driving AI products. Toyota shares jumped as much as 3.9% following this announcement, continuing their gains since the morning. The automaker plans to open the futuristic Woven City near Mount Fuji later this year.

Huang took the CES stage before noon Tokyo time, shortly after Nvidia shares reached all-time highs. In his speech, he unveiled new graphics cards for gaming PCs — based on Nvidia’s Blackwell chip design — and more software to help companies develop autonomous driving and AI robots.

Huang’s speech added to the boost that tech-related stocks are getting from recent public and private investments in AI infrastructure. Microsoft last week announced plans to spend $80 billion on AI data centers this year, while Hon Hai reported better-than-expected sales growth last quarter.

“There was a huge influx of pro-AI news at the beginning of the year,” said Andrew Jackson, an analyst at Ortus Advisors Pte. He said Japanese chip equipment makers were particular winners amid the ongoing technology rally, with many selling off heavily during year-end position adjustments that favored momentum. “It looks like semiconductor production equipment has legs here.”

Japanese chip package substrate maker Ibiden, which supplies Nvidia, is likely to see significant gains from Huang’s desire to “roll out Blackwell at scale,” Jackson added. Ibidin shares rose as much as 7.7% on Tuesday, the biggest rise since November 5.

–With assistance from Vlad Savov, Kurt Schussler, and Katherine Ngai.

(Updates with Toyota announcement from Huang’s keynote at CES)

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