Nvidia Chip Forecast Lifts Samsung, TSMC, Auto Stocks
Get SkimNews daily
A curated daily digest across 7 categories: geopolitics, tech, finance, health, energy, sports, culture. Free.
- Nvidia announced a robust revenue forecast for its AI chips and partnerships with regional carmakers, prompting auto and tech stocks to rise in Asia‑Pacific markets.
- Samsung Electronics shares climbed 2.76% after the Nvidia news, while TSMC rose 1.36% as the world's largest chipmaker supplies Nvidia's advanced AI GPUs.
- SK Hynix shares fell 0.41%, reversing earlier gains amid the same market environment.
- Hyundai Motor shares rose 3.16% after Nvidia announced partnerships for autonomous vehicle development, with Nissan Motor (+1.19%), Isuzu (+1.43%), BYD (+1.18%) and Geely (+4.61%) also gaining.
- Trump considered delaying his meeting with Chinese President Xi Jinping by about a month due to the Middle East conflict, influencing investor sentiment on Iran war developments.
- Australia's central bank raised its benchmark policy rate to 4.1% for a second consecutive time, matching expectations as inflation stayed above the 3% upper limit.
- Meta shares jumped more than 2% on a report of planned layoffs of over 20% of its workforce, while Nvidia shares also rose over 1% as its GTC conference kicked off.
Why it matters: Investors rewarded Nvidia’s growth outlook, lifting shares of chip makers and automakers, while the Australian central bank’s rate hike and Trump’s delayed China visit added pressure on other sectors, and Meta’s layoff news boosted its stock, reshaping short‑term market sentiment.
