Major global semiconductor stocks rose on Tuesday after Nvidia announced plans to invest $100 billion in OpenAI.

The deal between Nvidia and OpenAI is on a large scale. OpenAI plans to build and deploy Nvidia systems that require 10 gigawatts of power, which is equivalent to 4 million and 5 million graphics processing units (GPUs), according to Nvidia CEO Jensen Huang.

The news sparked a rally on Wall Street, with positive sentiment flowing through to the global chip sector and especially touching companies with ties to Nvidia.

In Taiwan, shares of Taiwan Semiconductor Manufacturing Co., which manufactures chips for Nvidia, closed 3.5% higher.

In South Korea, SK Hynix, whose memory chips are used in Nvidia’s systems, saw its shares end the session more than 2.5% higher. Rival Samsung also closed 1.4% higher. Samsung does not yet supply Nvidia with its high-bandwidth memory chips, but markets are hoping that the company will gain the green light to do so imminently.

Equipment suppliers, such as Tokyo Electron which is listed in Japan, was also higher at the close of trade in the country.

The chip stock rally in Asia filtered through to Europe, where the picture was nevertheless a little more mixed.

STMicro, Infineon and BE Semiconductor were all higher in early trade in Europe.

However, semiconductor equipment firm ASM International said it expected its fourth-quarter revenue to come in below previous expectations, sharply weighing on shares. The news also dragged down other chip equipment names such as ASML, whose machines are required to manufacture the most advanced semiconductors in the world.

“In Europe, the strengthening of the AI ecosystem is particularly beneficial to equipment manufacturers” including ASML and ASMI, “which will all benefit at some point from solid demand from TSMC who is the manufacturer of NVIDIA advanced chips,” Stephane Houri, head of equity research at ODDO BHF, said in a note to clients on Tuesday.