GIGADEVICE (03986) shares surged 6.02% in intraday trading on Wednesday, joining a broad rally across memory chip stocks. The stock was propelled by a wave of positive sentiment sweeping the sector.

The sector-wide boost came after strong earnings reports from Super Micro Computer and CoreWeave, which lifted market sentiment for technology and memory-related companies. Additionally, JPMorgan released a bullish research note forecasting that the current storage upcycle could extend through the end of 2028. The firm projects a widening supply-demand gap, with global DRAM bit demand growing approximately 30% next year while supply growth is estimated at only 26.5%, signaling a favorable environment for memory chip makers like GIGADEVICE.

Separately, GIGADEVICE recently announced its wholly-owned subsidiary will invest USD 100 million for a 25% stake in Yunfeng Investment V, L.P., a fund focused on technology companies with Asia expansion potential, aiming to strengthen its global strategic positioning.