Asian chip stocks rallied in early trading Thursday after American AI chip darling Nvidia
beat Wall Street expectations and issued stronger-than-expected guidance for the fourth quarter.
South Korea’s SK Hynix rallied around 4%. The memory chip maker is Nvidia’s top supplier of high-bandwidth memory used in AI applications.
Samsung Electronics
, which also supplies Nvidia with memory, was also up nearly 4%. The company has been working to catch up to SK Hynix in high-bandwidth memory to land more contracts with Nvidia.
