BUSINESS

Nvidia's board has opened an independent investigation into CEO Jensen Huang after reports of alleged foreign intelligence ties and his admission that he was unfaithful to his wife.

Lay's, Doritos, Oreo and other major brands dominate the global snack market, while rising costs, health trends and changing consumer habits challenge their continued growth.

Madison Huang cancelled a planned South Korea visit as allegations involving her father, Nvidia CEO Jensen Huang, prompted denials, congressional demands for answers and heightened scrutiny of the chipmaker.

Australian petrol and diesel prices have edged lower as wholesale costs fall, but fuel remains expensive, with regional motorists paying more and further cuts possible.

Bitcoin traded near US$75,851 on 8 November as heavy US spot ETF outflows, declining trading activity and weak sentiment limited hopes of a recovery.

Tesla and SpaceX lost about $457 billion in market value after the US midterm elections, as investors weigh Tesla's slowing growth against SpaceX's rapid expansion and higher risks.

Samsung Electronics and SK Hynix reported record quarterly profits, but their shares fell sharply as investors questioned whether massive AI spending can deliver lasting returns.

Nvidia remains a powerful AI-chip supplier but faces customer-spending concerns, while Intel's weak forecast, historic share-price collapse and turnaround challenges have heightened investor risk.

Woolworths is launching a Mad Mex-inspired hot roast chicken with Mexican rice stuffing, just days after Coles released its own Old El Paso version at a matching price.

nLIGHT shares rose 22% after the laser maker reported record product margins and stronger defence revenue, while supply constraints delayed about $15 million in expected sales.

Extreme Networks shares rose 18% after Reuters reported the networking equipment maker is exploring a sale following acquisition interest. Potential buyers could include Cisco, Fortinet and NetApp.

IREN shares rebounded nearly 23% after the AI cloud provider reported stronger-than-expected revenue, despite a wider quarterly loss and delays to its annual recurring revenue target.

TransMedics shares jumped 19% after record third-quarter revenue beat forecasts, adjusted earnings topped estimates and the organ transplant technology company raised its 2026 revenue guidance.

JFrog shares rose more than 30% after the software supply chain company beat third-quarter forecasts, reported accelerating cloud revenue and issued a stronger-than-expected fourth-quarter outlook.

Minerals 260 shares fell 8.5% amid a global technology-stock selloff, leaving the gold developer below its September placement price despite strong funding and ambitious Bullabulling milestones.

Sunrise Energy Metals shares fell 8.24% after the company approved construction of its Syerston scandium project, amid broader market weakness and uncertainty over its Nasdaq move.

Sims Ltd shares fell 7.2% as a global sell-off in technology and artificial intelligence stocks spread to Australia, despite no market-sensitive company announcement.

IMDEX shares fell nearly 7% as a global technology selloff weighed on riskier stocks, overshadowing the mining-services company's record fiscal 2026 revenue and earnings growth.

Mesoblast shares fell more than 6% amid a broad market pullback, despite 44% quarterly growth in Ryoncil revenue and an 86% reduction in operating cash spend.

US stocks suffered their sharpest sell-off in more than a year, with technology and chip shares leading a $3 trillion decline amid concerns over AI spending, regulation and interest rates.

Japan's Nikkei 225 plunged 5.96% into bear-market territory as investors reassessed AI valuations, sending chipmakers, equipment suppliers and SoftBank Group sharply lower.

Chinese stocks declined amid a global technology sell-off led by Wall Street, with AI shares hit hardest while mainland markets proved more resilient than regional chip-heavy exchanges.

Indian stocks rose for a seventh consecutive session despite sharp declines in Japan and South Korea, supported by foreign inflows, lower AI exposure and gains among large-cap companies.

South Korea's KOSPI fell 6.02% and briefly dropped below 5,000, triggering a circuit breaker as global concerns over AI spending battered Samsung Electronics and SK Hynix.

European shares closed lower after a US chip sell-off reversed early gains, with technology stocks tumbling as investors assessed AI regulation concerns, rate rises and corporate results.

Tesla and SpaceX lost up to $456 billion in combined market value after the US midterm elections, while Elon Musk's wealth fell by about $90 billion in a week.

QBE Insurance shares rose 3.3% to a session high of A$26.75 as investors sought defensive stocks amid a sell-off in Australian technology and mining shares.

National Australia Bank shares rose 2.7% after a steep sell-off, despite weaker full-year earnings, higher bad debt charges, planned job cuts and divided broker views.

Amcor shares rose 4.7% in Sydney after falling sharply in New York, as stronger revenue and improving volumes were offset by an earnings miss, higher costs and reduced guidance.