Advantest Faces Key Earnings Test as Stock Valuation Tops Nvidia

Advantest Corp. faces a major challenge this earnings season as the 85% surge in its share price this year has pushed its valuations past those of its key customer Nvidia Corp.

The world’s largest maker of chip testers has seen its market capitalization swell to around $86 billion on the AI boom. The Japanese firm is now squarely on global investor radars as the highest weighted stock in the Nikkei 225 as of the end of September, passing the likes of SoftBank Corp. and Fast Retailing Co.