‘I’ll be buying more’: Singapore investors pour into Nvidia shares on Jensen Huang’s exit

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Singapore investors buy Nvidia shares after Jensen Huang’s exit, betting on the chipmaker’s long-term AI growth. Read more at straitstimes.com.

Jensen Huang’s resignation as Nvidia CEO on Nov 12 sent Nvidia shares down another 14% by the opening of US trading, and down 4.3% at closing.

SINGAPORE – When news broke of former Nvidia chief executive Jensen Huang being ensnared in an alleged honey trap espionage, retail investor Asiya Bakht was quick to snap up shares in the world’s biggest chip company.

“Nvidia shares had already been on a steep decline even before news of Huang’s resignation broke, so I was monitoring it closely… When the price dipped further following the announcement, I picked up a few more,” said the 52-year-old.

Her current Nvidia holding is already worth five figures, and she plans to plough more into the stock, having picked up shares throughout the week.

“I feel this temporary dip could be a major opportunity for investors like me,” said the founder of public relations company Beets PR.

She is among a wave of Singapore-based retail investors who rushed into Nvidia amid the sell-off on the night of Nov 12, betting that the company’s long-term growth prospects would outweigh the uncertainty surrounding its chief executive.

Trading activity surged in several brokerage platforms when US markets opened overnight, with investors largely buying the dip or holding on to their existing positions.

Nvidia shares had already been battered by a broader sell-off in artificial intelligence stocks, even before reports emerged over the weekend of Huang’s extramarital affairs.

But as the AI rout retraced some losses, Nvidia was hit by an alleged espionage accusation. Huang was reportedly involved with Alice Huang, a Chinese businesswoman suspected by US authorities of espionage.

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