Amkor shares rally in late trade, to work with Nvidia on packaging
Amkor Technology shares surged over 8% in after-hours trading following Nvidia's announcement to collaborate with Amkor on chip packaging. Nvidia's CFO, Colette Kress, revealed plans to work with Amkor and Siliconware Precision Industries to enhance U.S. manufacturing over the next four years. This collaboration is part of Nvidia's strategy to expand its manufacturing footprint, with its "Blackwell" AI chips being produced at TSMC's Arizona factory, requiring advanced packaging in Taiwan before sales.
Nov 19 (Reuters) - Shares in Amkor Technology (AMKR.O) rose more than 8% in after-the-bell trading on Wednesday during Nvidia’s (NVDA.O) conference call after the AI chip leader’s chief financial officer named Amkor among companies it plans to work with on chip packaging.
Amkor shares were last at $33.58 after hitting a high of $34.75 after closing the regular session up 2.4% at $31.43.
Nvidia CFO Colette Kress told investors the company plans to work with Amkor and Siliconware Precision Industries Co Ltd to expand its U.S. manufacturing footprint over the next four years.
Nvidia last month said it produced its first “Blackwell” AI chips at Taiwan Semiconductor Manufacturing Co’s (2330.TW) Arizona factory but before those chips can be sold, they must be shipped to Taiwan for an advanced packaging process.
