Shares of AI chip-making giant Nvidia Corp. ($NVDA) rose nearly 1% in Wednesday’s pre-market, building on a 4% gain from the previous session.
If the upward momentum continues, the stock is on track for its sixth consecutive day of gains.
Tuesday’s rally followed a Financial Times report that Nvidia supplier Hon Hai Precision Industry Co. ($HNHPF), also known as Foxconn, is constructing a factory in Guadalajara, Mexico, to assemble Nvidia’s GB200 Blackwell AI servers.
At Foxconn’s annual tech showcase in Taipei, Chairman Young Liu noted the “crazy” demand for Nvidia’s Blackwell AI chip platform, a sentiment echoed by Nvidia CEO Jensen Huang, who described the demand as “insane.”
Nvidia anticipates generating several billion dollars in revenue from the Blackwell line in the January quarter, with Wall Street estimates hovering around $4 billion.
On Stocktwits, Nvidia was among the top 10 trending tickers before the bell on Wednesday, with a ‘bullish’ retail sentiment.
Adding to the optimism, Taiwan Semiconductor Manufacturing Co. ($TSM), Nvidia’s primary supplier, reported strong third-quarter earnings.
TSMC’s revenue for the quarter reached NT$753.61 billion ($23.41 billion), a 12% increase from the same period last year.
Nvidia stock has surged over 175% on a year-to-date basis.
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