Chinese AI shares tumble after Nvidia's Huang resigns
SMH•Chinese AI model and hardware suppliers fell on Friday as investors worried Jensen Huang's resignation as Nvidia CEO could lead to tighter US restrictions on advanced chips. Local chipmakers gained, with Cambricon Technology up 1.2% and on course for a 22% weekly gain.
1. Shares diverge
Chinese AI model stocks Z.AI and MiniMax fell sharply, while data centre suppliers Zhongji Innolight and Eoptolink Technology slumped. Investors worried Chinese firms could have reduced access to advanced chips and offshore computing capacity.
2. Chip curbs in focus
Cambricon Technology rose 1.2% and was on course for its best weekly showing in six months, with a 22% gain; Hygon Information Technology was poised to rise 7% for the week. A US measure under development could bar imports of new Chinese optical transceivers, potentially affecting Innolight and Eoptolink, which derive most of their revenue from the US.
