Nvidia-MediaTek Deal Sends Taiwan Stocks Soaring to Two-Month High

Taiwan's Taiex index closed at its highest level in two months on Tuesday, rising 1.78% to 46,948.72.

The surge was largely driven by Nvidia's announcement that it will invest US$3.5 billion in MediaTek's record-breaking overseas convertible bond offering, part of their partnership.

Nvidia's investment is significant because MediaTek specializes in application-specific integrated circuits (ASICs), an area where Nvidia has expressed interest for AI development.