Asian chipmaking stocks sink tracking Nvidia losses

Investing.com-- Asian chipmaking stocks fell on Thursday, tracking overnight losses in market darling Nvidia after the chipmaker’s guidance on revenue and margins underwhelmed, raising concerns over the AI trade.) fell as much as 8.5% in after-hours trade as an underwhelming outlook on current quarter revenue and gross margin largely eclipsed an earnings beat and a $50 billion buyback from the chipmaker.

The news sparked steep losses in Nvidia’s stock, with losses spilling over into Asia, where several chipmakers have direct exposure to the AI giant.) was the worst performers of the lot, dropping 5.6% even as it unveiled a new generation of memory chips aimed at reducing power requirements. SK Hynix is a key supplier of advanced memory chips to Nvidia.)- the world’s biggest chipmaking by foundry capabilities and a major Nvidia supplier- fell 2.4% in Taipei trade, after its U.S.

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Asian benchmarks mostly decline as markets await Nvidia earningsAsian shares are trading mostly lower, despite a record high on Wall Street, as investors awaited a closely watched earnings report from Nvidia. Benchmarks fell in Tokyo, Sydney, Seoul, Hong Kong and Shanghai in Wednesday morning trading.
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