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 be limited, as the investigation does not directly affect AI chip demand or existing contracts," said Saxo Markets chief investment strategist Charu Chanana.

Morningstar analysts don't see an immediate risk to the large orders Nvidia has secured from hyperscalers, or a strong likelihood that any will reduce capital spending due to the uncertainty.

Still, the sensitivity of the matter drew comments from top officials in South Korea and Taiwan, home to some of Nvidia's most important Asian suppliers.

"We need to wait and see what impact the recent issue [related to Jensen Huang] will have on Nvidia," said Ryu Je-myung, South Korea's 2nd Vice Minister of Science and ICT. "For now, we expect the schedule for the contracted volume to proceed without any setbacks."

Ryu made the remarks Monday to a parliamentary budget committee, saying that 10,000 graphics processing units funded under South Korea's 2025 supplementary budget had already arrived and were in use.

Responding to questions about the Huang incident, Taiwan Premier Cho Jung-tai said Tuesday in a legislative session that the island's export-control laws and regulations are designed to protect its interests, particularly in sensitive high-tech industries.

Cho said the matter was being investigated by U.S. authorities and that Taiwan was also looking into the situation.

Although Asian suppliers aren't likely to be much affected by the scandal near term, there could be headwinds down the line from potential U.S. investigations, analysts say.

President Trump has said that the Federal Bureau of Investigation was looking into the matter, and several U.S. senators called for national security reviews.

In a statement, U.S. Senators Elizabeth Warren and Jim Banks called on Congress to urgently pass tighter export controls on Nvidia chips shipped to China.

Morningstar analyst Phelix Lee said any potential outcome that tightens export curbs could ultimately affect Nvidia's revenue in Southeast Asia, and therefore its suppliers.

--Kwanwoo Jun contributed to this report

Write to Sherry Qin at sherry.qin@wsj.com

(END) Dow Jones Newswires

November 10, 2026 01:17 ET (06:17 GMT)