- Nvidia Corp NVDA continues to draw attention, helped by the ChatGPT frenzy and reports of leading semiconductor manufacturers ramping up and consolidating production Technology partnerships in Japan. The stock is up 120% year-to-date.
- This Thursday, Taiwan Semiconductor Manufacturing Company Ltd TSM, Samsung Electronics Co,Ltd SSNLF, Intel Corp INTCAnd Micron Technology, Inc MU At a meeting in Tokyo with Japanese Prime Minister Fumio Kishida, the leaders shared their transformation plans for Japan.
- Micron plans to invest up to 500 billion yen ($3.7 billion) to build an extreme ultraviolet lithography technology manufacturing facility in Hiroshima.
- Samsung mooted setting up 30 billion yen R&D center in Yokohama, Financial Times reported.
- TSMC also raised the possibility of further investments in Japan after agreeing to build a new plant in Kumamoto.
- Yasutoshi Nishimura, Japan’s minister, also confirmed talks with Intel. Applied Materials, Inc AMAT, International Business Machines Corp IBMAnd Rapidus.
- Nishimura said the government will use the 1.3 trillion yen provided in Japan’s supplementary budget to support pledges by foreign chipmakers.
- However, Japan’s efforts to expand the semiconductor industry are being undermined by the country’s shrinking workforce, including a chronic shortage of engineers.
- Japan’s stimulus means more opportunity and scope for chipmaker growth as Japan seeks to reduce dependence on China.
- On Thursday, Oppenheimer Analyst Patrick Scholes retained Nvidia’s Outperform rating and raised its price target from $300 to $350, which was best-in-class Play with the introduction of AI.
- Price promotion: NVDA shares were trading down 1.84% at $310.93 at last check on Friday.
- Image by StockSnap from Pixabay
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