Errol Hong

Nvidia Turmoil Raises Stakes for the US-China Tech Rivalry

Haslinda Amin, Charles Evans, Jane Fraser, Kaleem Rizvi, Shuli Ren, Ryan Fedasiuk, Carol Lye, Errol Hong, Min Min Lo, Stephen Angle, Avril Hong, Anthony Stevens, Linda Liu

Asian equities extended a two-day rally fueled by falling oil prices and Middle East de-escalation, though analysts characterize the move as a temporary relief following a brutal AI sell-off rather than a fundamental reset. While Anthropic adjusts its IPO valuation targets downward to between $1.1 trillion and $1.5 trillion amidst market volatility, Nvidia faces intensified federal scrutiny over alleged underreported chip sales and a scandal involving its CEO. Concurrently, U.S. monetary policymakers warn that AI-driven data center expansion risks stoking inflation, driving market expectations for rate hikes in December as Chinese automakers face regulatory pushback for exporting a domestic price war to global markets.