0521 GMT - MediaTek's shares surge amid better AI application-specific integrated circuits visibility. The Taiwanese company's shares, up almost 22% this week, are on track for its best week since 2002. Shares had underperformed earlier this year partially because of market concern about the slow progress in AI ASIC, or custom-made AI chips. The chip maker's reported collaboration with Google has boosted its shares after the tech giant's latest Gemini model and AI chip deal with Meta. Management also reiterated its positive view on AI ASIC at a Citi event. Citi estimates that MediaTek's ASIC business revenue contribution could surpass 20% in 2027. With Google expanding TPU-based data center and cloud service to external customers, Citi analysts expect significant growth in TPU shipments over the next years and to benefit MediaTek. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

November 28, 2025 00:21 ET (05:21 GMT)

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