Asian Stocks Slide Amid Deepening Technology Sell-off

By EC Assets · Published 28 April 2026 · Updated 28 May 2026

Asian stocks declined as a technology sector sell-off deepened. This downturn follows news of an impending deal between Nvidia and OpenAI. The agreement involves OpenAI acquiring $100 billion worth of Nvidia chips. OpenAI is also developing its own custom chips. The company plans to finalize its first custom chip design this year. OpenAI has released its first model using chips from Cerebras, a competitor to Nvidia. The broader market for artificial intelligence (AI) chips is experiencing increased competition. AMD has emerged as a significant challenger in this sector. Some analysts predict that a semiconductor stock other than Nvidia could become a market leader by 2026. The expanding competition in AI chip development could alter market dynamics. Companies are pursuing various strategies, including internal chip design and partnerships with multiple suppliers. This indicates a diversifying landscape for crucial AI hardware. Upcoming developments include OpenAI's custom chip finalization. Further product releases from companies like AMD and Cerebras will also be closely watched. This article is intended for informational purposes only. It does not constitute investment advice.