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South Korea and Taiwan chip shares rise as Nvidia faces CEO probe
CNBC reported Monday that TSMC, Foxconn, Samsung and SK Hynix advanced even as Nvidia futures slipped amid an investigation of CEO Jensen Huang.
- Our desk filed its story
- New headline Was: “South Korea and Taiwan chip shares rise as Nvidia faces CEO probe”
- nvidianews.nvidia.com, Reuters and 13 more are now reporting this
- New headline Was: “Asian chip stocks in South Korea and Taiwan gain despite Nvidia scrutiny”
- Our desk filed its story
Chip shares in Taiwan and South Korea rose Monday, rebounding from Friday even as Nvidia Corp. faces an internal investigation of Chief Executive Jensen Huang, CNBC reported1.
The Taiwan Weighted Index was up as much as 6.7%, led by Taiwan Semiconductor Manufacturing Co. and Hon Hai Precision Industry Co., known as Foxconn, according to CNBC1. TSMC gained more than 6% and Hon Hai more than 8%1.
In South Korea, Samsung Electronics Co. rose 2.7% and SK Hynix Inc. rose 4.77%, CNBC said1. Both companies supply Nvidia1.
South Korea's second vice minister for science and ICT, Ryu Je Myung, said contracted deliveries of Nvidia graphics processors were expected to proceed without disruption, CNBC reported1. Ryu said the ministry was monitoring developments and discussing prices and schedules with Nvidia Korea1.
While Nvidia shares rose Friday, CNBC cited Reuters as saying Nvidia futures on the Hyperliquid exchange and after-hours trading on the Blue Ocean system were around $180.30, about 3.4% below Friday's Nasdaq close of $186.641.
CNBC said Nvidia opened an investigation over the weekend into Huang's relationship with a businesswoman affiliated with Megaspeed, a cloud company and Nvidia customer1. CNBC, citing the New York Times and Financial Times, said U.S. intelligence agencies have expressed concern that the woman, identified as Alice Huang, has been passing information to Beijing1. CNBC said Huang told staff he had an affair with the woman and apologized, and that a company spokesperson said he remained committed to serving as CEO1.
