Nvidia shares slide as board considers Jensen Huang’s future

{"text":[[{"start":10.04,"text":"Nvidia shares tumbled in after-market trading following reports that the chipmaker’s board was considering chief executive Jensen Huang’s future."}],[{"start":17.84,"text":"The stock fell 8.6 per cent after the New York market closed on Wednesday following news of his relationship with Kimberly Powell, Nvidia’s vice-president of healthcare, days after it emerged that he had an affair with a suspected Chinese spy."}],[{"start":32.12,"text":"Nvidia stock has fallen more than 11 per cent over the past five days, wiping hundreds of billions of dollars off the market capitalisation of the company that designs the chips central to AI processes."}],[{"start":null,"text":"

"}],[{"start":43.4,"text":"Nvidia rival AMD closed 7.3 per cent higher on Wednesday and gained more than 4 per cent after hours, while Broadcom added 4 per cent with a 2.4 per cent rise after the US market closed."}],[{"start":57.08,"text":"Nvidia is a component of the Nasdaq 100, which is set to open 0.75 per cent lower on Thursday with the broader S&P 500 on track to open down 0.3 per cent."}],[{"start":68.76,"text":"Asian stock markets were mostly higher on Thursday. TSMC, the world’s largest chip foundry and Nvidia’s most important supplier, was 0.4 per cent lower in morning trading while Taiwan’s Taiex index was up 0.2 per cent."}],[{"start":83.6,"text":"In South Korea, the Kospi Composite index rose 1.4 per cent, with Samsung Electronics up 3.9 per cent and SK Hynix gaining 2.5 per cent."}],[{"start":93.8,"text":"Sentiment about the AI trade had been improving in recent days until news of Nvidia board meeting emerged on Wednesday night, said ChaiWon Lee, chair of Seoul-based Life Asset Management."}],[{"start":104.36,"text":"He doubted that Huang’s potential removal would have a significant impact on Nvidia’s earnings in the near term, but said it would “not be good news for chipmakers in general”."}],[{"start":113.52,"text":"In Japan, the Nikkei and Topix indices both gained about 0.7 per cent."}],[{"start":118.64,"text":"Chipmaking equipment producer Tokyo Electron rose 4.4 per cent. Memory-chip maker Kioxia gained 3.5 per cent but remains down about a third over the past month. SoftBank Group advanced 2.2 per cent."}],[{"start":131.16,"text":"In Australia, the ASX 200 fell 0.3 per cent, with BHP almost 1 per cent lower after the mining company said finance chief Vandita Pant was stepping down."}],[{"start":147.66,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1794460626_3391.mp3"}