Business and finance news from the Asia-Pacific.
Nvidia CEO Jensen Huang was ousted from his position on Thursday after multiple romantic affairs, including one with a woman suspected by US officials as a Chinese spy.
Asian stocks edged higher as investors weighed the fallout from Nvidia Corp.’s leadership upheaval on the broader artificial-intelligence trade. US oil traded around $88.70 a barrel after President Donald Trump said the US could forgo a deal with Iran, and Treasury yields held near Thursday’s highs. The upheaval at Nvidia is testing the AI trade without derailing the broader investment boom, and may make investors more selective, favoring companies best placed to benefit from continued spending.
Following Huang's ousting, CFO Collette Kress was appointed interim CEO. As part of our special coverage, Bloomberg TV's Yvonne Man and Avril Hong held a roundtable with Senior Executive Editor of Global Tech Tom Giles and North Asia Correspondent Minmin Low to discuss what today's decision means for Nvidia and its place in the AI economy.
The shakeup in Nvidia leadership is effecting world markets. Nvidia with Jensen Huang at the helm has long been an advocate of looser chip restrictions. Vivian Lin Thurston, Portfolio Manager at William Blair spoke with Bloomberg TV's Yvonne Man and Avril Hong to discuss how the new leadership can change chip restrictions, and how it will ultimately affect the China tech space.
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