MediaTek Inc. shares posted their best week since 2002, as artificial intelligence advances at its client Google help reshape the growth outlook for the Taiwanese chipmaker.
The stock rose for a fifth-straight day Friday in Taipei, taking its weekly gain to 22%, on investor enthusiasm over Google’s latest Gemini model and AI chip deals. MediaTek has reportedly partnered with the Alphabet Inc. unit on design of tensor processing units, seen as a potential rival to Nvidia Corp. chips in AI applications.