Lunch Wrap: Nvidia’s drama gets a new episode as Xero grabs the popcorn

Detailed summary

The ASX slipped as miners struggled, Nvidia served up a soap opera and Xero went ballistic. ... Read More The post Lunch Wrap: Nvidia’s drama gets a new episode as Xero grabs the…

The S&P/ASX 200 was down 0.4% at lunchtime on Thursday in Sydney, with miners looking miserable.

The S&P 500 climbed 1.4% and Nasdaq jumped 1.8% as CoreWeave’s earnings and hype around Anthropic’s upcoming IPO had investors chucking money at anything AI.

Then Nvidia boss Jensen Huang went and turned the whole lovefest into a soap opera.

Nvidia shares plunged 9% after hours on reports its board was considering giving him the boot over, not one, but two alleged extramarital affairs.

One reportedly involved a suspected Chinese spy, while the latest allegedly involved Nvidia executive Kimberly Powell, who reports to Huang.

And just to spice things up, US Republicans are now threatening to drag Huang before Congress, subpoenas and all.

Nothing proven at this stage, of course, but who needs Netflix when you’ve got Nvidia?

Back in Sydney this morning, rising US bond yields and a beefier greenback were making life miserable for miners.

BHP (ASX:BHP) and Rio Tinto (ASX:RIO) both slid around 1.5%, while gold and lithium stocks joined the queue for punishment.

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