Asian stock markets fell on Friday (November 13) as investors weighed the impact of Nvidia CEO Jensen Huang's sudden resignation on the global artificial intelligence industry and future investment in AI infrastructure.
Nvidia shares dropped more than 4 per cent on Thursday following the announcement, while the S&P 500, Dow Jones Industrial Average and Nasdaq Composite each declined 0.4 per cent.
Huang, Nvidia's co-founder and longtime chief executive, resigned effective November 11 amid a controversy involving alleged personal relationships and national security concerns. The company's Chief Financial Officer Colette Kress has taken over as interim CEO while the board searches for a permanent successor.
The leadership change has raised concerns about the future direction of Nvidia, a key supplier of advanced chips and computing infrastructure for the global AI industry. Analysts warn that uncertainty over the company's strategy and the pace of AI investment could affect Asian chipmakers and technology suppliers that depend on demand for Nvidia's products.
South Korea's KOSPI fell 1 per cent to 5,290.53 points, while Samsung Electronics lost 1 per cent and SK Hynix dropped 3 per cent. Hong Kong's Hang Seng declined 1.6 per cent to 23,629.58, while Shanghai's Composite fell 0.6 per cent.
Elsewhere, Australia's S&P/ASX 200 slipped 0.7 per cent and India's Sensex fell 0.6 per cent. In currency markets, the yen strengthened slightly to 159.82 against the US dollar, while the euro rose to $1.10.
-AH