Nvidia Corp (NASDAQ:NVDA) plans to increase its investments in Taiwan, emphasizing the critical role of the local chip supply chain and its long-standing partnership with Taiwan Semiconductor Manufacturing Co (NYSE:TSM), CEO Jensen Huang said in Taipei.
Despite geopolitical uncertainties, Nvidia plans to build a new supercomputer in Taiwan after launching Taipei-1 last year. The stock is trading higher on Wednesday.
Huang praised TSMC for its advanced technology and flexibility, highlighting its 25-year partnership, Nikkei Asia reported.
Also read: Nvidia Emails Reveal Musk’s GPU Shuffle: What’s at Stake for Tesla’s AI and the Future of Robotics
Moreover, Huang showed interest in evaluation Intel Corp (NASDAQ:INTC) as a potential chip manufacturing service provider.
Recent reports indicated that TSMC is expecting a price hike, something Nvidia’s boss has already talked about.
The top contract chipmaker is looking to increase the price of its AI chip manufacturing services. TSMC chief CC Wei cited the example of Nvidia, which already charged a premium for its products.
Analysts pegged Nvidia as the top AI beneficiary after the recent Taiwanese Computex event, citing the opportunities with its Hopper platform, Blackwell B100/200, and the ASP boost from the GB200 NVL72 full rack solution.
Nvidia has also reached out Samsung Electronics Co to supply high bandwidth memory chips (HBM) as the industry faced supply chain constraints.
A separate report indicated that Tesla Inc (NASDAQ:TSLA) will set aside $3 billion to $4 billion for Nvidia hardware purchases in 2024.
Nvidia shares are up more than 197% in the past 12 months as the AI frenzy is in no hurry to die down. Investors can gain exposure to the shares through VanEck Semiconductor ETF (NASDAQ:SMH) and iShares US Technology ETF (NYSE:IYW).
Price promotion: NVDA shares were trading 2.96% higher at $1,198 at last check on Wednesday.
Also read: Intel is targeting the Chinese export market – what investors need to know
Disclaimer: This content was produced in part using AI tools and was reviewed and published by Benzinga’s editorial staff.
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This article What’s going on with Nvidia stock on Wednesday? originally appeared on Benzinga.com
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