Asian Chip Stocks Decline as Nvidia’s Outlook Damps AI Frenzy

-- Asian semiconductor stocks slipped as a less-than-outstanding outlook from key chipmaker Nvidia Corp. chilled investor sentiment on the artificial intelligence trade.Among Nvidia suppliers, shares of Korean memory maker SK Hynix Inc. dropped as much as 6.8% while those of Japanese tester maker Advantest Corp. fell 3.6%. The Bloomberg Asia Pacific Semiconductors Index slid 1.6%. American depository receipts of leading foundry Taiwan Semiconductor Manufacturing Co.

Nvidia’s shares fell more than 8% in late US trading after giving a revenue forecast that missed the highest analyst estimates and flagging production snags with its new Blackwell chips. The announcements may deepen concerns of overheating of the AI rally that sparked a recent selloff and rotation into less-loved areas of the equity market.

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