Nvidia Futures Waver, Asian Suppliers Shrug Off Impact
By Sherry Qin
Nvidia stock futures wavered in Asia after the artificial-intelligence chip giant's stock slid Monday amid a controversy involving its chief executive.
Shares of Nvidia closed 4% lower in the U.S. after the company's board launched an independent investigation into whether CEO Jensen Huang was the target of a foreign intelligence effort.
Nvidia futures and perpetual contracts were broadly higher at the start of Tuesday's Asia session, rising in line e-Mini Nasdaq futures as the broader tech sector rallied, but surrendered ground later in the day.
Futures on CME's Globex reversed to sit 0.2% lower at $179.18 after rising over 1% earlier, while after-hours trading on Blue Ocean ATS pointed 0.6% higher.
Market participants are still parsing through the fallout of the investigation into Huang, which has raised concerns about heightened scrutiny of Nvidia's export licenses, particularly to China.
Shares of the chip maker's Asian suppliers have largely shrugged off the controversy, which analysts say doesn't seem likely to affect the regional supply chain for now.
"The immediate impact on Nvidia's Asian suppliers should...