13/11/2026
Asian stocks ticked higher as investors weighed the fallout from Nvidia’s leadership change across the artificial intelligence sector, while crude oil and U.S. Treasury yields extended gains.
The MSCI Asia Pacific Index rose 0.3%, led by South Korean equities. U.S. stock-index futures also advanced: Nasdaq 100 futures climbed 0.6% and S&P 500 futures gained 0.4%, after the two benchmarks closed lower on Thursday. Nvidia, the linchpin of the AI boom, fell 4.3% following the ouster of Chief Executive Officer Jensen Huang.
U.S. crude traded around $88.70 a barrel after President Donald Trump signaled the U.S. may walk away from a deal with Iran. Treasury yields held near Thursday’s highs as traders priced in a faster pace of Federal Reserve rate hikes, and the U.S. dollar edged stronger. Gold steadied after three straight sessions of losses, while Bitcoin changed hands near $71,300.
Turmoil at Nvidia is testing the investment narrative around AI, yet it has not erased broader enthusiasm for the sector. Instead, it is pushing investors to become more selective, targeting companies best positioned to capture gains from ongoing AI spending.
This shift is already visible on Wall Street. Broadcom and AMD, both rivals of Nvidia in parts of the AI chip market, rose more than 5% on bets they would stand to benefit from the industry leader’s troubles.
Nvidia’s market value briefly slipped below $4 trillion amid investor jitters ahead of earnings, triggered by the scandal over Jensen Huang’s affair with a woman suspected of being a Chinese spy. A related investigation into alleged efforts to smuggle Super Micro Computer products into China sent the server maker’s stock down as much as 16%, its steepest drop in more than five months.
Two major events next week will offer a broader test of demand for AI exposure: the highly anticipated IPO of Anthropic PBC and CoreWeave Inc.’s planned raise of at least $4 billion via an investment-grade loan. Strong institutional demand for Anthropic’s listing signals sustained investor appetite for AI plays.
Traders in Asia are also watching the yen, which weakened past 160 per U.S. dollar for the first time since September and reignited expectations that Japanese authorities may step in to support the currency.
Rising oil prices added further pressure to the Treasury market, extending a selloff sparked on Tuesday by hotter-than-expected U.S. inflation and hawkish commentary from Fed officials. The policy-sensitive two-year yield rose 14 basis points, and the 10-year yield climbed 13 basis points.
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