Bloomberg Daybreak: Asia Edition

Business and finance news from the Asia-Pacific.
Nvidia CEO Jensen Huang was ousted from his position on Thursday after multiple romantic affairs, including one with a woman suspected by US officials as a Chinese spy.
Asian stocks edged higher as investors weighed the fallout from Nvidia Corp.’s leadership upheaval on the broader artificial-intelligence trade. US oil traded around $88.70 a barrel after President Donald Trump said the US could forgo a deal with Iran, and Treasury yields held near Thursday’s highs. The upheaval at Nvidia is testing the AI trade without derailing the broader investment boom, and may make investors more selective, favoring companies best placed to benefit from continued spending.
Following Huang's ousting, CFO Collette Kress was appointed interim CEO. As part of our special coverage, Bloomberg TV's Yvonne Man and Avril Hong held a roundtable with Senior Executive Editor of Global Tech Tom Giles and North Asia Correspondent Minmin Low to discuss what today's decision means for Nvidia and its place in the AI economy.
The shakeup in Nvidia leadership is effecting world markets. Nvidia with Jensen Huang at the helm has long been an advocate of looser chip restrictions. Vivian Lin Thurston, Portfolio Manager at William Blair spoke with Bloomberg TV's Yvonne Man and Avril Hong to discuss how the new leadership can change chip restrictions, and how it will ultimately affect the China tech space.
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Business and finance news from the Asia-Pacific.

Nvidia is facing a potential leadership shakeup, with its board considering the future of CEO Jensen Huang and working with an outside firm to identify possible replacements. As part of our special coverage, Bloomberg TV's Heidi Stroud-Watts and Avril Hong held a roundtable with Bloomberg Senior Editor Michael Shepherd, Equity Strategist Sunny Bangia and Bloomberg Intelligence Global Head of Technology Research Mandeep Singh on the succession risk and what Huang's potential departure could mean for the broader AI ecosystem.
Also, Nvidia's turmoil is forcing investors to reassess the chipmaker after a sharp decline in its shares. Bloomberg TV's Avril Hong spoke with HSBC Chief Multi-Asset Strategist Max Kettner about how much of the risk is already priced in and whether the fallout could spread across the broader tech trade.
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Business and finance news from the Asia-Pacific
Nvidia remains in focus as shares extend their decline and scrutiny grows around CEO Jensen Huang. The company's board has brought in a former federal prosecutor to investigate reports Huang was targeted by Chinese intelligence. We spoke with Michael Monaghan, Portfolio Manager of the Founders 100 ETF, about Nvidia's reliance on Huang, the potential fallout across the AI ecosystem and Anthropic's upcoming IPO.
Also, Otter AI is expanding its push into Asia after raising 320-million dollars in new funding. The company is adding support for more languages as it looks to grow internationally. Bloomberg TV's Avril Hong spoke with Co-Founder and CEO Sam Liang about the company's expansion, competition in voice AI and the changing environment for artificial intelligence.
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Business and finance news from the Asia-Pacific
Nvidia shares fell as the broader tech sector rallied, with investors weighing the fallout from CEO Jensen Huang's affair with a woman suspected of working for Chinese intelligence. For more on what the controversy could mean for markets, Bloomberg TV Host Heidi Stroud-Watts spoke with Floodlines Research Founder Anna Wu.
Also, Citigroup is expanding its presence in China after winning approval for its wholly owned securities venture. The bank plans to hire about 100 bankers over the next several years, with Citi Global Corporate Banking Co-Head Kaleem Rizvi saying China remains too big for companies to ignore.
Citi CEO Jane Fraser is also in China, where she told Bloomberg the country remains one of the biggest strategic opportunities in financial services. Bloomberg's Stephen Engle spoke with Fraser about Citi's expansion, the outlook for China, the AI investment boom and the risks facing the global economy.
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Business and finance news from the Asia-Pacific.

Nvidia CEO Jensen Huang admitted to having an affair with a woman suspected of being a Chinese spy, prompting the Nvidia board to launch an investigation. Huang disclosed the romantic relationship in a memo to employees, saying "I was unfaithful to my wife" and that his actions hurt his family, and he is deeply sorry. The incident has sparked concerns about the stewardship of Nvidia, with the board investigation set to examine reports that Huang "has been the target of a foreign intelligence effort".

The markets reacted to the news, in addition to the US midterm results. For more Bloomberg TV Host Annabelle Droulers spoke with Sean Darby, Mizuho Securities Asia Managing Director.

Also, UBS is hosting its annual Australasia Conference in Sydney, bringing together corporate leaders, policymakers, economists, and institutional investors. It was here that Bloomberg TV Host Heidi Stroud-Watts was able to sit down with UBS CEO Sergio Ermotti.
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