Asian tech, chipmaking shares rise on OpenAI cheer By Investing.com

Investing.com- Asian technology and chipmaking stocks rose on Wednesday, on renewed optimism in artificial intelligence demand after OpenAI announced a major infrastructure project in the US.

Technology stocks in Japan, Taiwan and South Korea were the best performers, with gains biased more toward chipmakers. TSMC (TW: ), the world’s largest contract chipmaker, jumped more than 2% in Taiwan trading, as the electronics giant Yes, yes Precision Industry Co Ltd (TW:), informally known as Foxconn ( SS: ), rose 1.1 percent.

A Japanese chip maker and supplier of NVIDIA Corporation (NASDAQ: Advantest Corp. (TYO:) added 3.9%, while Tokyo Electron Ltd (Tio:) And Renesas Electronics Corporation (TYO: ) rose 1.2% and 4.4%, respectively.

SoftBank Group Corp., a major part of the OpenAI project. ( TYO: ) rallied more than 10 percent.

South Korean memory chip giant SK Hynix Inc (KS:) increased by 3.2% while its biggest rival Samsung Electronics Co (KS:) added 0.9%.

OpenAI announced a new partnership with several major technology companies called the StartGate project to invest about $500 billion over the next four years to build a US-based AI infrastructure.

Softbank’s Masayoshi Son will lead the partnership, while the technology corporation will be responsible for financing the project.

The project’s lead technology partners include Microsoft Corporation (NASDAQ: ), Nvidia; Arm Holdings (NASDAQ:), and Oracle Corporation (NYSE:), there is OpenAI.

News of the project has boosted global tech and chip stocks as it predicts a significant increase in AI-related spending in the coming years. The project has already raised 100 billion dollars, and is exploring possible locations in Texas.

US President Donald Trump announced the project on Tuesday.

JPMorgan analysts cautioned that the project is still an overall positive for the chip industry, even if they don’t see a rapid increase in AI-related capital spending.