{
  "id": 19754124,
  "title": "Tech firms extend rally in Asia as traders look past Huang's downfall",
  "url": "https://urgent.news/2026/11/13/tech-firms-extend-rally-in-asia-as-traders-look-past-huangs-downfall",
  "topic": "world",
  "section": "World",
  "published": "2026-11-13T03:31:29.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/economy/2026/11/1576710/tech-firms-extend-rally-asia-traders-look-past-huangs-downfall"
  },
  "original_language": "en",
  "account": "Tech firms witnessed a rally in Asian markets on Friday, driven by optimism that the AI boom would persist despite the ousting of Nvidia co-founder Jensen Huang. Investors were focused on the upcoming mega-IPO of US tech giant Anthropic, scheduled for the following week. Amidst the Middle East crisis, Donald Trump urged Vice President JD Vance to concentrate on domestic matters rather than engaging in talks with Tehran, hinting at waning interest in a potential peace deal. Huang's departure followed reports of his involvement in two extramarital affairs, including one with a woman suspected of spying for China. After stepping down, he will serve as an interim CEO until Colette Kress, Nvidia's CFO, takes over. Nvidia's share price plummeted around 20% following the fallout, but recovered slightly after buying pressure subsided, ending the day about 4% lower. While concerns lingered about the AI boom, industry experts noted that business activities would continue unabated, and Huang's departure wouldn't affect ongoing projects. Competitors such as Broadcom and Advanced Micro Devices also rallied in New York, but all three markets on Wall Street closed lower. Asia showed a more favorable trend, with Seoul, Tokyo, and Taipei experiencing gains between 1.3% and 3%, while South Korea's SK hynix and Samsung, as well as Taiwan's TSMC and Kioxia, also showed positive movements. Notably, Hong Kong, Sydney, Singapore, and Wellington experienced declines. Business continued as usual, with experts asserting that Nvidia's business case remained strong, despite the CEO controversy. Traders were also preparing for Anthropic's highly anticipated IPO next week, which was expected to raise over $60 billion and serve as an indicator of the AI spending boom's longevity. Additionally, traders monitored global currency markets, following Trump's tweets about ending negotiations with Iran and the strengthening of the US dollar against the Japanese yen.",
  "summary": "HONG KONG: Tech firms rallied Friday in Asian trade on optimism that the AI boom would continue despite the downfall of Nvidia mastermind Jensen Huang, with eyes on the mega-IPO of US titan Anthropic next week.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}