Asian chip shares open lower on Nvidia drop and AI concerns

SEOUL/TAIPEI/TOKYO -- Chip shares across Asia opened sharply lower Monday morning, following a steep fall in Nvidia's share price in the U.S. market over the weekend, reflecting concerns over the durability of the artificial intelligence boom.

In Seoul, SK Hynix, a key supplier of high bandwidth memory (HBM) chips for Nvidia, fell as much as 3.6% before paring back its losses slightly to trade around down 3.3% in the morning hours. Samsung Electronics, which aims to supply its HBM chips for the U.S. chipmaker this year, was down 2.3%. The benchmark KOSPI was up 0.9%.