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Nvidia-led AI boom sends tech stocks soaring in Malaysia, Vietnam

Chip production and supercomputers among fields feeling boost

Vietnamese tech group FPT saw its stock hit an all-time high in mid-March, driven by a partnership with AI chipmaker Nvidia.   © Reuters

SINGAPORE -- Southeast Asian AI-related stocks, especially those of companies collaborating with Nvidia, have soared on the back of increased demand from the spread of generative AI.

Vietnamese information technology major FPT Corp.'s stock price hit the 118,000 dong level in mid-March, the highest since its listing in 2006. The closing price on Thursday was 114,900 dong, up about 60% from a year ago and 20% from the end of 2023.

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