Asian Markets Mostly Fall As Nvidia Shares Plunge 8.6% Amid CEO Controversy

Asian markets traded mostly lower on Thursday, while US stock futures remained mixed, as concerns surrounding Nvidia CEO Jensen Huang weighed on artificial intelligence-related stocks.

Nvidia shares plunged 8.6% in after-hours trading following reports that the company’s board had met to discuss concerns surrounding Huang’s alleged links to a Chinese businesswoman amid national security allegations. The company is reportedly investigating the matter.

Japan’s Nikkei 225 slipped 0.1% to 61,224.87, while South Korea’s Kospi remained nearly unchanged. Taiwan’s Taiex fell 1.2%, Australia’s S&P/ASX 200 declined 0.4% and Hong Kong’s Hang Seng lost 0.9%. China’s Shanghai Composite gained 0.2%.

On Wall Street, the S&P 500 rallied 1.3% on Wednesday, while the Nasdaq Composite advanced 1.6% and the Dow Jones Industrial Average rose 254 points, or 0.5%. AI cloud-computing firm CoreWeave surged 24.7% after reporting better-than-expected results.

Investors remain concerned about the profitability of massive AI investments and the sustainability of the sector’s growth.

Meanwhile, US crude fell 1.21% to $85.48 per barrel, while Brent crude declined 1.20% to $91.65. The US dollar traded at 159.74 yen, while the euro stood at $1.1077.