Asian Chip Shares Tumble on Nvidia Earnings, Tariff Fears
Nvidia, the chipmaker at the center of an AI spending boom, sank 8.5% in New York after warning that gross profit margins would be tighter than anticipated.
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A poor market reception of Nvidia’s earnings and the specter of additional US tariffs have knocked down Asian chip stocks, dragging Japan’s tech-heavy Nikkei average down to its lowest level since September.
A Bloomberg gauge of 25 Japanese chip-related stocks sank as much as 4.5%, the biggest intraday fall since September, led by 12% fall in Disco Corp. Advantest Corp plunged as much as 10% while Tokyo Electron lost 5.5% at one point.