Stocks recover from Nvidia whiplash, dollar climbs with US yields

Résumé détaillé

Nvidia CEO Jensen Huang's exit could have far-reaching consequences for US chip export policy and the AI industry. Read more at straitstimes.com.

Nvidia CEO Jensen Huang stepped down on Nov 12 after reports of extramarital affairs, including one involving a suspected Chinese spy.

SINGAPORE – Stocks in Asia were on steadier footing on Nov 13 after a turbulent week dominated by revelations of extramarital affairs involving Nvidia CEO Jensen Huang that culminated in his resignation, in a blow to the global AI boom he helped advance.

US Treasury yields climbed, with the two-year yield hitting a one-month high, lifting the dollar as investors weighed the prospect of an outsized 50-basis-point rate hike by the Federal Reserve in December.

Huang stepped down on Nov 12 after reports of the affairs, including one involving a suspected Chinese spy, which plunged the chipmaker into crisis and sent shockwaves through the AI industry.

His exit could have far-reaching consequences for US chip export policy and the broader AI industry and supply chain, given Huang’s push to preserve access to the Chinese market as well as his close ties with US President Donald Trump.

“His departure leaves a vacuum that will be difficult to fill... We do not assume existing commitments change, but new deals could take longer or require more compensation as investors look for reassurance about Nvidia’s role,” analysts at JPMorgan said in a note.

“The bigger implications are for the rest of the AI trade, particularly GPU financing and infrastructure deals in which Nvidia would presumably be involved as a supplier, investor or provider of contractual support.”

Nvidia shares fell 3% in extended trading, while those of its customers, including South Korea’s Naver, extended declines on Nov 13, with Naver down 2.75%.

Jon Zauderer, Citi’s head of specialist sales and a TMT specialist, said competitors such as AMD, Arista and Broadcom could benefit from the Nvidia fallout.

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