TOKYO (AP) — Global stocks were mixed Thursday as concerns about chipmaker Nvidia’s leadership weighed artificial intelligence -related actions.
After hours trading, Nvidia shares fell 8.6% after reports that Nvidia’s board of directors was meeting Wednesday evening to discuss the situation surrounding its CEO, Jensen Huang, whose affair with a Chinese woman has raised national security concerns in the United States.
Nvidia Shares of rose 2.9% on Wednesday. Its shares fell after the company said it was investigating Huang, who admitted to a relationship with a businesswoman which allegedly provided intelligence and advanced chips to China.
The S&P 500’s future slipped 0.4%, while that of the Dow Jones Industrial Average was virtually unchanged.
At the start of European trading, the French CAC 40 gained 0.7% and the German DAX rose 1.0% to 26,939.92. Britain’s FTSE 100 index jumped 0.3% to 10,868.98.
In Asian trading, Japan’s benchmark Nikkei 225 index fell 0.7% to 60,819.36.
In South Korea, the Kospi gave up its initial gains to slide 0.6% to 5,342.73. Taiwan’s Taiex lost 2.6%. Australia’s S&P/ASX 200 index fell almost 0.1% to 9,146.80.
Hong Kong’s Hang Seng lost 1.3% to 24,008.55, while the Shanghai Composite fell 0.7% to 3,655.83.
Aside from Nvidia’s situation, investors are concerned about a potential slowdown in the overall AI industry, given long-standing questions about whether it will prove profitable enough to make massive investments in the technology worth it.
Analysts also said people could still take a risk, buying Nvidia shares at what appears to be a discount due to uncertainty over what Huang’s woes could mean for the company.
“There is no credible way to attribute a precise revenue loss to his departure,” said Ipek Ozkardeskaya, senior analyst at Swissquote.
“Customers buy Nvidia’s computing power, software and networking ecosystem, and those benefits won’t disappear with its CEO,” she said.
Benchmark U.S. crude rose 0.8% to $87.26 a barrel. Brent crude, the international standard, added 0.8% to $93.53 a barrel. Brent has been hovering between $72 and $120 since the war with Iran pushed prices significantly higher.
In currency trading, the U.S. dollar fell to 159.64 Japanese yen from 159.79 yen. The euro costs $1.1095, up from $1.1091.
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Yuri Kageyama is on the discussions: https://www.threads.com/@yurikageyama
Gn bussni
