Nvidia Corp led a surge in market value among global firms last month, buoyed by unrelenting demand for its new supercomputing artificial intelligence (AI) chips as more companies integrate AI into their daily operations.
Nvidia’s market cap rose 9.3 percent last month to US$3.26 trillion, while the company’s supplier, Taiwan Semiconductor Manufacturing Co (台積電), saw its market value increase 6.5 percent to US$832.8 billion. The gains came after the world’s largest contract chipmaker posted better-than-expected third-quarter earnings and gave a robust outlook for AI demand.
Apple Inc briefly ceded its top global market capitalization spot to Nvidia, with a 3 percent decline to US$3.4 trillion last month on a modest growth forecast and sluggish sales in China, before bouncing back.
Photo: Ritchie B. Tongo, EPA-EFE
The market values of Meta Platforms Inc and Microsoft Corp fell last month after both companies warned about escalating AI costs.
Mark Haefele, chief investment officer at UBS Global Wealth Management, maintained his positive outlook on AI, advising investors to use near-term volatility as an opportunity to increase exposure to quality AI stocks.
“We continue to favor select semi names and big tech, and we expect our AI portfolio to deliver 35 percent earnings growth in 2024 and 25 percent in 2025.”
In Asia, the market value of Tencent Holdings Ltd (騰訊) fell 9 percent to US$483 billion last month, carried by a wider decline in Chinese shares due to sluggish economic data, geopolitical tensions and as investors paused to assess government support measures.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) is expected to share his views about the artificial intelligence (AI) industry’s prospects during his speech at the company’s 37th anniversary ceremony, as AI servers have become a new growth engine for the equipment manufacturing service provider. Lam’s speech is much anticipated, as Quanta has risen as one of the world’s major AI server suppliers. The company reported a 30 percent year-on-year growth in consolidated revenue to NT$1.41 trillion (US$43.35 billion) last year, thanks to fast-growing demand for servers, especially those with AI capabilities. The company told investors in November last year that
Power supply and electronic components maker Delta Electronics Inc (台達電) yesterday said it plans to ship its new 1 megawatt charging systems for electric trucks and buses in the first half of next year at the earliest. The new charging piles, which deliver up to 1 megawatt of charging power, are designed for heavy-duty electric vehicles, and support a maximum current of 1,500 amperes and output of 1,250 volts, Delta said in a news release. “If everything goes smoothly, we could begin shipping those new charging systems as early as in the first half of next year,” a company official said. The new
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