Intel Suppliers Surge In Asia After Nvidia’s $5B Investment

Intel suppliers across Asia rallied Friday after Nvidia announced a $5 billion investment in the U.S. chipmaker, according to Bloomberg. Lasertec shares surged 15% in Tokyo, their biggest jump since April, as the company derives nearly a third of its revenue from Intel. Ibiden gained 12% while fellow Intel suppliers Tokyo Electron, Screen Holdings, and Shin-Etsu Chemical also advanced. Intekplus surged 18%, other South Korean peers rose over 5%, and Intel-linked stocks in China and Hong Kong, including Montage Technology, also advanced up to 11%. Analysts said Intel’s planned collaboration with Nvidia on PC and data center chips boosts sentiment and removes concerns about Intel cutting capital spending. TSMC shares, however, slipped 1.2% on worries Intel could take over some Nvidia production.