Stocks
Nvidia Invests Big in MediaTek with Record-Breaking $3.5 Billion Deal
MediaTek shares surged after it secured a massive $3.5 billion investment from Nvidia, the largest direct investment by the American chipmaker outside of the US.
The deal involves Nvidia purchasing bonds convertible into MediaTek shares.
On Tuesday, MediaTek's stock jumped 10% in Taipei, hitting its daily limit.
This significant investment is a major vote of confidence for MediaTek and the broader semiconductor industry.