Asia stocks slip as Nvidia turmoil clouds AI trade; China chipmakers rally Roushni Nair Wed, November 11, 2026 at 11:39 PM EST 4 min read NVDA -4.49% ^NDX +2.28% ^GSPC +1.31% OPAI.PVT CRWV +16.58% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Investing.com -- Asian stocks came under pressure on Thursday as uncertainty over Nvidia's leadership unsettled the artificial intelligence trade, while investors tracked a shift towards domestic semiconductor suppliers in China amid growing U.S. scrutiny of the sector.
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The MSCI Asia Pacific Index rose 0.3%, led by technology shares, even Nasdaq 100 futures fell 1% and S&P 500 futures lost 0.4%, extending the pullback following Nvidia's sharp after-hours decline.
Wall Street had rallied on Wednesday, with the Nasdaq 100 jumping 2.3% and the S&P 500 gaining 1.3%, leaving the latter close to recovering its losses since last week's U.S. midterm elections.
The gains followed renewed confidence in AI demand after CoreWeave shares surged 25% on an improved annual outlook, OpenAI reported quarterly revenue of $10 billion and Anthropic's planned IPO was reported to be multiple times oversubscribed.
Nvidia shares fell more than 8% in after-hours trading, having dropped as much as 10%, following reports that its board was discussing whether to replace Chief Executive Jensen Huang.
Directors were reportedly meeting on Wednesday to consider his future, while the company has been working with an outside firm to identify potential successors and considering an interim chief executive.
The reports follow allegations of multiple extramarital affairs, including one involving a woman reportedly suspected of having links to Chinese intelligence. The New York Times also reported that Huang had a relationship with an Nvidia executive who reported to him.
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Huang acknowledged being unfaithful to his wife but provided no further details. Nvidia's board has opened an investigation and said it had no reason to believe company secrets or U.S. national security had been compromised.
The allegations and succession reports remain unverified. Nvidia is due to report its earnings next week, adding another major test for sentiment towards the AI trade.
The uncertainty is significant because Huang has become closely associated with Nvidia's success and the broader AI boom. Any leadership disruption could affect confidence in the chipmaker and its supply chain, even as demand for computing capacity remains strong.
Chinese semiconductor shares moved higher as U.S. scrutiny of the sector reinforced expectations that Beijing and domestic technology companies will accelerate efforts to reduce reliance on foreign chip suppliers.
Shanghai-listed shares of Semiconductor Manufacturing International Corp. rose 2.4%, while its Hong Kong-listed stock gained 1.7%. Hua Hong Semiconductor advanced 2.7% and chip equipment maker NAURA Technology climbed 3.1%. Mainland Chinese markets were mixed, with the Shanghai Composite gaining 0.2% and the CSI 300 trading flat.
Japan's Nikkei 225 slipped 0.8% and TOPIX edged down 0.1%, while South Korea's KOSPI fell 0.3%. Australia's S&P/ASX 200 lost 0.1%, while New Zealand's NZX 50 rose 0.6% and Singapore's Straits Times Index added 0.1%. India's Nifty 50 gained 0.1% and the Sensex rose 0.2%, while Nifty 50 futures advanced 0.4%.
Oil prices continued to drift towards a two-month low as Middle East production increased and hostilities between Iran and the United States remained muted.
The dollar held near an 18-month high, with markets fully pricing in a 25-basis-point Federal Reserve rate increase next month and assigning a smaller probability to a 50-basis-point move.
Fed funds futures indicated an 87.3% chance of a quarter-point increase at the December 9 meeting, compared with a 12.7% probability of a half-point hike.
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