Nvidia to become Naver’s third-largest shareholder

Intel's weak guidance caused its shares to drop 29% on Friday, impacting U.S. and Asian markets. Taiwan's TAIEX index fell 812 points at open, with TSMC shares dropping below NT$2,310. Other tech stocks also declined, including AMD, Qualcomm, and Nvidia. Analysts attribute the sell-off to concerns over AI-related capital spending and U.S. economic data.

Nvidia will become Naver's third-largest shareholder after acquiring 7.24 million new shares, representing a 4.5% stake. Naver Chairman Lee Hae-jin's ownership will decrease to 3.8%. The investment follows a partnership to build AI infrastructure. Naver's share issuance is set for November 6, with listing on November 27.

The U.S. Justice Department is investigating Nvidia's $12.93 billion acquisition of Hugging Face, questioning its impact on AI competition. Nvidia, which announced the deal in September 2026, aims to close it by mid-2027. Hugging Face, a platform for AI models, serves millions of developers and companies. Antitrust concerns focus on Nvidia's potential control over AI model distribution.

The Nasdaq Composite fell 2.86% on Friday, led by selloffs in Alphabet (down 12%) and Intel (down 28%), exposing concentration risk in tech-heavy indices. The S&P 500 also dropped 1.8%, while the equal-weighted RSP ETF gained 5% in October. Investors are concerned about AI spending and slowing growth in core businesses. Nvidia, Apple, and other tech giants saw significant declines, with Nvidia losing its title as the world's most valuable company.

Nvidia, AMD, and Broadcom agreed to invest $5 billion in Meta's $25 billion stock sale. Analysts question the circular financing, where chipmakers invest in a company that buys their products. Meta's capital needs and AI infrastructure spending are under scrutiny. S&P Global revised Meta's outlook to negative, citing cash flow concerns and high capital expenditure.

Nvidia aims to increase substrate capacity 2.5x in 3 years via deals with Samsung, IBIDEN, and Unimicron. Q2 2026 revenue hit $96.2B, up 106% YoY, with Data Center revenue at $89B, up 117%. Amkor plans 300% advanced-packaging capacity growth by 2028. Samsung expects Nvidia to be a major customer by 2028.