Nvidia CEO resignation sends Asian tech stocks in different directions

Jensen Huang stepped down as Nvidia CEO on Thursday, prompting a mixed response across Asian equity markets on Friday. The change in leadership at the chip giant has investors questioning the trajectory of the artificial intelligence industry.

Colette Kress, Nvidia’s longtime chief financial officer, is serving as interim CEO. Huang co-founded the company and served as the public face of its AI strategy. Industry observers noted that many in the sector viewed Huang as a figure larger than the company itself.

The resignation followed reports that Huang’s personal affairs raised concerns regarding U.S. national security. On Thursday, Wall Street indices slipped. The S&P 500, Dow Jones Industrial Average, and Nasdaq composite each fell 0.4%. Despite these losses, U.S. futures pointed upward in early Friday trading.

In Asia, Japan’s Nikkei 225 rose 0.8% to 61,283.16. Tokyo Electron shares climbed 1.5%, while Kioxia Holdings dropped 2.5%. SoftBank Group lost 5.2% after its investment in OpenAI. South Korea’s Kospi index declined 0.5% to 5,317.05. Samsung Electronics fell 0.7% and SK Hynix dropped 2%.

Taiwan’s Taiex index increased 1.7%, driven partly by a 0.9% gain in TSMC stock. Hong Kong’s Hang Seng index fell 0.9% to 23,786.48, while the Shanghai Composite rose 0.2% to 3,663.71. Australia’s S&P/ASX 200 slid 0.7% to 9,084.80, and India’s Sensex fell 0.2%.

Oil prices also influenced trading sentiment. President Donald Trump stated on social media that the U.S. did not need a deal with Iran, noting that the country’s strait remained under control. He claimed the U.S. held hundreds of billions of dollars in Iranian money. Brent crude traded at $95.70 per barrel, down 0.1% from earlier levels. U.S. crude fell 0.4% to $88.41 per barrel.

The U.S. dollar strengthened to 159.91 Japanese yen. The euro traded at $1.1059. AMD shares rose 5.9% on Thursday as investors looked at Nvidia’s competitors.