Asian semiconductor stocks, including Taiwan Semiconductor Manufacturing Corp and Samsung Electronics, surged following chipmaker Nvidia's strong second-quarter results and optimistic guidance. Nvidia's performance was driven by its data center business, which includes AI chips. Morgan Stanley analysts estimate that TSMC will generate 6% of revenue from AI-related semiconductors in 2023 and expect a 50% compounded annual growth rate for Nvidia in the segment for the next five years. SK Hynix, a South Korean memory chip maker, also saw a significant rise in its stock. Chinese semiconductor stocks, such as Hua Hong Semiconductor and SMIC, also gained.
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