Asian stocks edged higher as investors eased back into technology shares amid fading concerns that a leadership crisis at Nvidia Corp. may derail the broader artificial-intelligence trade.
The MSCI Asia Pacific Index rose 0.4%, led by a gain of over 2% for South Korean shares. US equity futures also advanced, with Nasdaq 100 contracts up 0.4% and those for the S&P 500 gaining 0.3% after both underlying benchmarks fell Thursday.
Nvidia, the company at the heart of the AI boom, dropped as much as 14% after Chief Executive Officer Jensen Huang was ousted, but dip buyers stepped in, leaving it just 4.3% lower by the close.
US oil broadly held its gains, trading around $88.50 a barrel after President Donald Trump said the US could forgo a deal with Iran. Treasury yields mostly held near Thursday’s highs as traders braced for faster Federal Reserve rate hikes, while a gauge of dollar strength was little changed. Gold steadied after a three-session decline and Bitcoin traded around $71,100.
The upheaval at Nvidia is testing the AI trade without derailing the broader investment boom. Instead, it may make investors more selective, favoring companies best placed to benefit from continued spending.