SHANGHAI: Investors dumped shares in Chinese AI models and hardware suppliers to the US on Friday (Nov 13), worried the resignation of Jensen Huang as Nvidia CEO could usher in an even deeper technological divide between the world's two biggest economies.
AI model stocks Z.AI and MiniMax Group fell sharply on worries of reduced access to advanced AI chips, while data centre suppliers Zhongji Innolight and Eoptolink Technology, whose businesses are heavily reliant on US markets, slumped.
Local chip stocks gained as investors bet on tech self-reliance, leaving both the benchmark Shanghai Composite Index and the blue-chip CSI300 Index little changed by the lunch break.
"The market fears that after Huang's resignation, Nvidia will reduce sourcing from Chinese suppliers," said Wu Zhou, fund manager at Shenzhen Deyuan Investment.
Guess WordCrack the word, one row at a timeBuzzwordCreate words using the given lettersMini SudokuTiny puzzle, mighty brain teaserMini CrosswordSmall grid, big challengeWord SearchSpot as many words as you can Show More Show Less"The US will also likely tighten restrictions on China's access to advanced chips, including the renting of offshore cloud computing power."
Wu said such a prospect bodes ill for AI firms that desperately need computing power, but benefits homegrown AI chipmakers.