AI summary
Summary of article:
The news of Huang Renxun’s resignation led to the decline of Huida, its market value fell below US$4 trillion, which also put pressure on AI and technology stocks. At the same time, Trump’s comments increased tensions between the United States and Iran, sending oil prices and energy stocks higher.
US stocks Initial trading on the 12th was mixed.Huida (Nvidia, also translated NVIDIA) Stock price due to CEOJen-Hsun Huang After resigning, the stock price fell 8%, and its market value fell below US$4 trillion. Trump’s social comments also created uncertainty in US-Iran relations, causing oil prices to rise.
The Dow Jones Industrial Average rose 44 points, or 0.1%, in early trading on the 12th; The S&P 500 and Nasdaq fell 0.6% and 1.1%, respectively; The Philadelphia Semiconductor Index fell 2.5%; TSMC ADRs fell 2.6%.
Due to recent revelations about his affair with Huang Le, a suspected Chinese female spy, Huang Renxun officially announced his resignation as CEO and board member of Huida before the US stock market opened on the 12th. As a result, Huida’s share price fell more than 14% in early trading and the company’s market value fell below US$4 trillion.
After the news was released, the share prices of Huida’s rivals Super Micro and Broadcom rose 1.8% and 4.5% respectively in early trading. However, other major AI trading stocks followed Huida. Software company Oracle’s share price fell 2.5%, while new cloud company Nebius’ share price dropped 17% in early trading after its financial forecast disappointed investors, although the company’s last quarter revenue exceeded market expectations.
In addition to AI selling pressure, oil prices also rose due to US President Trump’s posts on social media Truth Social. Trump said, “We don’t need to deal with Iran. Those days are long gone.” West Texas Intermediate crude futures rose more than 1% to more than $87 a barrel, while Brent crude futures also rose more than 1% to more than $94. Energy stocks Chevron and Exxon Mobil also rose about 1% each.
Summary FAQ
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The content reported that Huang Renxun officially announced his resignation as CEO and board member of Huida before the US stock market opened on the 12th due to the recent revelations of his affair with Huang Le, a suspected Chinese female spy. There was a sharp reaction in the market on this news.
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After the news was released, Huida’s stock price fell more than 14% in early trading, and also fell nearly 8% in the later period, and its market value fell below US$4 trillion. This has become one of the main reasons for the simultaneous retreat of semiconductor and AI concept stocks.
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Trump said on Truth Social that there is no need to deal with Iran now. The market saw this as another development in US-Iran relations, which sent oil prices higher. West Texas Intermediate and Brent crude oil futures both rose more than 1%, while energy stocks also rose in tandem.
