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Story summary
- MediaTek Inc. shares rose 22% this week, their strongest gain since 2002, driven by AI advances and Google partnerships.
- Investors credit Google's Gemini model and tensor processing units (TPUs) for the rally.
- Morgan Stanley and UBS upgraded their outlook, forecasting TPUs will contribute to MediaTek's sales by 2027.
- UBS sees TPU sales reaching $4 billion by 2028.
- The outlook includes 23 buy ratings and a 9% projected stock rise.
