Nvidia’s Earnings Disappoint, Sending Asian Tech Markets Down

Nvidia’s recent earnings report, while exceeding expectations in some areas, failed to impress investors, causing a significant dip in Asian tech markets. The company’s role in AI chip development has made it a bellwether for the tech sector, and its performance is closely watched. While Nvidia’s revenue and profits doubled in the second quarter, the growth rate was slower than previous periods. Additionally, concerns arose about issues with the company’s new Blackwell technology line, leading to a decline in Nvidia’s share price. The sell-off impacted major Asian tech companies, including SK hynix, Samsung, and TSMC, dragging down broader markets in Hong Kong, Tokyo, and other regions. Analysts are now looking to US economic data for clues on future interest rate cuts.