TSMC Shares Fall 2% in Asia as Nvidia Suppliers’ Stocks Waver
Key Facts
TSMC shares fell 2% in Asian trading on November 12, as Nvidia suppliers’ stocks wavered, Reuters reported. The move came on the day Jensen Huang resigned as Nvidia CEO, according to the Associated Press. Nvidia said Chief Financial Officer Colette Kress would take over on an interim basis. In a parallel move in the sector, SK Hynix shares fell 1.6%, Reuters reported. A direct link between TSMC’s share decline and the resignation could not be confirmed, while the stock’s move was placed within broader volatility in the company’s suppliers’ shares.
By contrast, TSMC’s operating data showed strong growth in October, with revenue at about 586.89 billion Taiwan dollars. Revenue rose 14.7% from September 2026 and increased 59.7% year over year compared with October 2025, the company said. That puts the month’s performance within a continuing annual growth trend in the company’s revenue during the first ten months of the year. Cumulative revenue from January to October reached 4,485.62 billion Taiwan dollars, up 43.3% from the same period in 2025. The figures highlight the widening revenue base as attention focuses on the implications of a leadership transition at one of the company’s major customers.
TSMC’s board approved investments of up to $500 million in Anthropic shares at the initial public offering price on November 10, and also approved an investment of up to $500 million in OpenAI preferred shares. The company described both amounts as investment caps that had been approved, and its statement did not indicate that the share purchases had been completed. The decision comes amid TSMC’s ties to the artificial intelligence sector, while Reuters reported that Huang had built a network of industrial partners in Taiwan that included TSMC, Foxconn and Wistron. Reuters said Huang had visited the island repeatedly to strengthen ties with those partners. The report quoted an official at a Taiwanese supplier as saying: "We will support any production capacity Nvidia needs, but the new CEO may not be as driven as Jensen was."
Nvidia’s share moves add further context to the sector’s volatility in Thursday’s session. The company’s shares fell more than 12% in early trading on November 12, Reuters reported, while AMD shares rose 2% and Broadcom shares rose 5%. By 10:30 a.m. Eastern time, Nvidia shares were down 5.3% after falling at the open, the Associated Press reported. The agency also reported that the stock had lost more than 30% since reaching a record high in the previous month. It attributed earlier concerns to fears that optimism about artificial intelligence had gone too far, followed by questions that week about whether Huang would remain at the company.
The leadership changes extend beyond the CEO role: Reuters reported that Huang would also leave Nvidia’s board and that the company had appointed Harvey Jones, former CEO of Synopsys and an Nvidia board member, as its first chairman. Reuters said Huang holds about 3.61% of Nvidia and is its fourth-largest shareholder. For TSMC, third-quarter results showed consolidated revenue of 1,494.24 billion Taiwan dollars and net income of 763.06 billion. The company recorded diluted earnings per share of 29.43 Taiwan dollars for the quarter. Its board also approved a cash dividend of 9 Taiwan dollars per share for the third quarter, setting March 17, 2027 as the record date and April 8 as the payment date.
Nvidia is scheduled to hold an employee meeting on November 18 at 9 a.m. Pacific time, according to a memo from Colette Kress cited by Reuters. On production plans, Reuters reported that the chips Nvidia intends to ship over the next year or two have already been designed and entered production. The report added that customers’ spending plans for 2027 do not depend on who leads the company. Regarding the investment approved by TSMC’s board, Benzinga reported that Anthropic plans to begin trading on November 19. The report said the offering includes 825 million shares within a price range of $70 to $78 per share.