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Nvidia 's shares climbed 2.9% on Wednesday. Its shares have
fallen after the company said it was investigating Huang, who
has admitted to a relationship with a businesswoman who
reportedly fed intelligence and advanced chips to China.
The future for the S&P 500 slipped 0.4%, while that for the Dow
Jones Industrial Average was nearly unchanged.
In early European trading, France's CAC 40 added 0.7% and the
German DAX rose 1.0% to 26,939.92. Britain's FTSE 100 jumped
0.3% to 10,868.98.
In Asian trading, Japan's benchmark Nikkei 225 shed 0.7% to
60,819.36.
In South Korea, the Kospi gave up early gains to slip 0.6% to
5,342.73. Taiwan's Taiex lost 2.6%. Australia's S&P/ASX 200
declined nearly 0.1% to 9,146.80.
Hong Kong's Hang Seng lost 1.3% to 24,008.55, while the Shanghai
Composite fell 0.7% to 3,655.83.
Apart from Nvidia's situation, investors are worried about a
potential slowdown in the overall AI industry given longstanding
questions about whether it will prove profitable enough to make
massive investments in the technology worthwhile.
Analysts also said people might still be taking a risk,
snatching up Nvidia shares at what appears to be a discount
because of uncertainty over what Huang's woes might mean for the
company.
“There is no credible way to put a precise revenue loss on his
departure,” said Ipek Ozkardeskaya, senior analyst at Swissquote.
“Customers buy Nvidia’s computing power, software and networking
ecosystem, and those advantages wouldn’t disappear with its
CEO,” she said.
Benchmark U.S. crude rose 0.8% to $87.26 a barrel. Brent crude,
the international standard, added 0.8% to $93.53 a barrel. Brent
has vacillated within a range of $72 to $120 since the war with
Iran pushed prices much higher.
In currency trading, the U.S. dollar fell to 159.64 Japanese yen
from 159.79 yen. The euro cost $1.1095, up from $1.1091.
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