Shares in Nvidia Corp’s Taiwanese suppliers mostly closed higher yesterday on hopes that the US artificial intelligence (AI) chip designer would showcase next-generation technologies at its annual AI conference slated to open later in the day.
The GPU Technology Conference (GTC) in California is to feature developers, engineers, researchers, inventors and information technology professionals, and would focus on AI, computer graphics, data science, machine learning and autonomous machines.
The event comes at a make-or-break moment for the firm, as it heads into the next few quarters, with Nvidia CEO Jensen Huang’s (黃仁勳) keynote speech today seen as having the ability to stave off fears that the chipmaker’s sales boom is peaking.
Photo: David Paul Morris, Bloomberg
Top of mind for investors would be updates on the company’s Blackwell product line, and commentary on gross margins, China, competitors and growth. Huang is also slated to appear with a group of industry executives on a panel on Thursday about the future of quantum computing.
More than 20 Taiwanese companies would be joining the five-day conference this week through Friday, either as exhibitors or sponsors. They include Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), Asustek Computer Inc (華碩), Lite-On Technology Corp (光寶), Hon Hai Precision Industry Co (鴻海), Quanta Cloud Technology Inc (雲達), Delta Electronics Inc (台達電) and Advantech Co (研華).
Following Nvidia shares’ 5.3 percent increase on Friday amid a rebound on Wall Street, TSMC gained 1.15 percent, Asustek rose 2.63 percent, Delta increased 4.1 percent, Advantech climbed 0.39 percent and Lite-On moved up 1.42 percent yesterday in Taipei trading. However, iPhone assembler and AI server maker Hon Hai lost 1.18 percent.
The TAIEX closed up 150.58 points, or 0.69 percent, at 22,118.63.
“The local main board rode the wave of expectations about Nvidia’s conference, as many investors have high hopes the AI giant will unveil the next generation AI server GB300, which is likely to benefit its Taiwanese suppliers,” Hua Nan Securities Co (華南永昌證券) analyst Kevin Su (蘇俊宏) said.
Nvidia shares remain down more than 9 percent this year, despite a recent rebound from a March trough. Investors are hoping Huang’s speech can deliver enough optimism to help sustain the stock’s recent rebound.
“The fear of Nvidia is we are at peak earnings right now and that the second half of the year isn’t going to be nearly as good as they outlined,” Wayve Capital Management chief strategist Rhys Williams said. “When he [Huang] goes onstage he may be able to give people some comfort that things are going well and that the wheels aren’t falling off.”
Additional reporting by Bloomberg
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