With Taiwan Semiconductor Manufacturing Company (TSMC), Samsung Electronics and SK Hynix supplying Nvidea with key components, amongst others, global AI and tech stocks fell on the news. However, Patricia Ribeiro, co-chief investment officer of global growth equity at , remained positive yesterday about the outlook for tech-driven emerging markets in an interview with this news service.

Nvidia’s selloff comes after the Democrats victories in the US midterm elections created significant market volatility in US technology, semiconductor and AI-related companies. The turbulence was driven by concerns that Democratic gains in the US midterm elections could result in more regulation of AI and tighter restrictions on data centre development, potentially slowing the pace of the AI infrastructure build-out. See more coverage here.

Sean Peche, founder and portfolio manager at Ranmore Fund Management, said: "I'm a bear for AI-related stocks. The large technology companies are spending an absolute fortune on AI capex, and I think investors need to be very careful."