Nvidia (NVDA) news is reshaping the global supply chain, mainly in Asia. Tech-heavy markets Japan and South Korea came under pressure overnight. Taiwan Semiconductor (TSM) fell 2% in its local session and dropped again in the U.S. session.
Asian partners and suppliers are redrawing plans in case Jensen Huang leaves, per Reuters. The concern: a new CEO may be less aggressive than Jensen, and may not keep the same good relationship with Asian business leaders.
China shows a split picture. Alibaba (BABA) and Tencent (TCEHY) were hammered on expectations the U.S. could tighten export controls. Chinese chip stocks rallied as focus shifted to domestic suppliers. Cambricon, called "the little Nvidia," rose nearly 10%; MetaX and Moore Threads both gained about 7%.
Alice Huang, accused of being a spy, has reportedly returned to China and is living in Beijing, per Bloomberg. The Justice Department is investigating whether entities tied to her helped smuggle Super Micro (SMCI) products to China. Per the Wall Street Journal, Democratic senators are targeting the Trump administration's records on Nvidia's (NVDA) exports to China, a sign lawmakers may be preparing an investigation.
Jensen Huang's resignation was learned this morning U.S. time. Reaction out of Asia will be watched in Friday's session.
Friday brings the PPI (producer price index), which tracks pipeline price pressures feeding into the CPI. Earlier this week CPI came in hotter than expected.
