Renewed AI optimism drives Asian chip-related stocks to surge after Nvidia CEO comments.

• Nvidia CEO Jensen Huang's bullish comments about the AI industry boosted Wall Street's rally, supported by Asian chipmaking giants.
• Huang emphasized that AI is not just about a chip, but rather an infrastructure, and that modern computing is much more complex than simply manufacturing a chip and placing it in a computer.

Wall Street's rally was prolonged by Asian chipmaking giants, with CEO Jensen Huang expressing optimistic views on the future of the AI industry.

At the Goldman Sachs Communacopia + Technology Conference in San Francisco, Nvidia's founder discussed the company's moat, its rivals, and supply chain. Nvidia shares surged 8% Wednesday as Huang described the demand for the company's products as "so great" that it "is really emotional for people."

"Our shoulders are burdened with many people, and everyone expects us to succeed," he stated.

Nvidia suppliers and semiconductor-related stocks surged in Asia due to the positive investor sentiment.

Foxconn, a well-known international chip manufacturer, experienced a 4% increase, while another chip manufacturer saw a 5% jump.

Huang acknowledged TSMC's contribution to Nvidia's success, describing it as "the world's best" and "significantly ahead of the competition."

Japanese chip-related stocks surged, with semiconductor testing equipment suppliers gaining over 9%, while other companies rose 4.6% and 3%, respectively.

The Japanese technology conglomerate, which owns a stake in a chip designer, experienced a 7% increase in value.

The world's two largest memory chip makers, Samsung Electronics and SK Hynix, experienced growth of 2% and 7.5%, respectively, as investor optimism extended to South Korea.

While Nvidia leads the AI chip market, Huang stated on Wednesday that the growth of artificial intelligence extends beyond just semiconductors.

"Huang emphasized that AI is not just about a chip, but rather an infrastructure. He pointed out that modern computing is much more complex than simply manufacturing a chip and placing it in a computer, which is a 1990s approach."

Nvidia is part of an ecosystem that encompasses cloud service providers and developers in the "first wave of GenAI," as he explained.

Huang stated that the Asian supply chain is "extremely diverse and highly interconnected" when questioned about Nvidia's approach to geopolitical challenges in the region. He added that Nvidia is prepared to fabricate its products elsewhere if necessary, stating, "If anything were to occur, we would be able to pick it up and fabricate it somewhere else."

Despite a 10% single-day plunge earlier this month that wiped out nearly $300 billion off its market value, Nvidia shares have still skyrocketed 136% so far this year due to continued investor enthusiasm.