ASX to fall; Nvidia shares plunge on Huang exit; Wall St steady

Detailed summary

Nvidia’s $15 billion Anthropic IPO pledge in focus with Huang exit; chip rivals gain; oil rises. Follow live updates.

Australian shares are set to drift lower this morning, as traders digest the overnight news of Jensen Huang’s resignation from Nvidia.

S&P/ASX 200 futures were down 29 points, or 0.3 per cent, to 9153 near 4.30am (AEDT).

The company at the heart of the artificial intelligence boom was down by 5.2 per cent in midday trading, after plunging as much as 13 per cent at the open.

Chief Financial Officer Colette Kress was tapped to replace Huang on an interim basis.

The Nasdaq fell slightly on Nvidia’s losses, but competitors such as Broadcom and Advanced Micro Devices rose. The semiconductor index was up 0.6 per cent.

Opening of the article, excerpted from Australian Financial Review. To read the rest, open the article on the publisher's site.