Nvidia Stock Price Breaks $1100, Sets New Record! Jensen Huang Praises: Taiwan is the Global AI Hub

The global AI chip leader Nvidia has seen a continuous rise in its stock price recently. Last week, buoyed by impressive earnings, Nvidia's stock price surpassed the $1000 mark for the first time.

Continuing its upward trend, Nvidia's stock surged another 7% at the close of the U.S. market yesterday (28th), finishing at $1139.01, setting another new record high. Additionally, driven by Nvidia's stock surge, the tech-heavy Nasdaq index also hit a record high, surpassing 17,000 points for the first time at market close yesterday.

Taiwan is the World’s AI Hub Furthermore, the Taipei International Computer Exhibition (COMPUTEX 2024) is set to open next week (6/4-6/7), and Nvidia CEO Jensen Huang arrived in Taiwan early on the 26th for this event. In an interview yesterday, Jensen Huang emphasized that Taiwan is already at the center of AI:

"It is crucial for Taiwan to seize this great opportunity with artificial intelligence, as Taiwan is already at the heart of AI. All computers in the world are used for AI, and Taiwan’s supply chain plays a significant role. This is a great start, and Taiwan will continue to progress in investing in artificial intelligence, and I look forward to helping."

According to insiders, during his visit for the international computer exhibition, Jensen Huang also plans to meet with the current President, Lai Ching-te, to discuss cooperation on Taiwan’s AI supply chain.

Moreover, industry sources indicate that Jensen Huang intends to establish a second AI research and development center in Taiwan. However, neither Huang nor the presidential office has publicly confirmed the meeting plans, and officials from the Ministry of Economic Affairs stated that they do not yet have details on the new AI R&D center.

Taiwan Stock Market Hits New High On the other hand, Taiwan’s stock market also hit a new historical high yesterday, with an intraday peak of 21,937.4 points and a closing index of 21,858.41 points, up 54.64 points or 0.25%.

Interestingly, a netizen posted on the PTT forum asking about "the reason for the sharp rise in Taiwan stocks." While there are many reasons for the rise, the comments predominantly credited Jensen Huang, saying, "It's all thanks to Old Huang, do you doubt it?", "Old Huang’s supply chain + domestic capital confidence," and "AI will rise all year."

AI Concept Coins Update In the cryptocurrency market, AI concept coins do not appear to have risen despite Nvidia's price hitting a new high. According to Coingecko data, among the top 5 AI concept tokens by market cap, only Render showed an increase in the last 24 hours, up 3.1%, while the rest were in decline. ICP had the largest drop, falling 2.4% in the past 24 hours.