Asian equities began the week on a subdued note as high U.S. Treasury yields tested Wall Street's lofty valuations, keeping the U.S. dollar near multi-month highs. Market Performance : MSCI Asia-Pacific Index dipped 0.2% but remains 16% up for the year. Japan’s Nikkei slid 0.9%, still boasting a 20% annual gain. Chinese blue chips rose 0.3%, with most of their 16% yearly gain achieved after Beijing’s September stimulus promises. South Korea's index edged up 0.3% but is down 9% for the year, weighed by political uncertainties and events like Jeju Air’s recent plane crash. Global Futures : EUROSTOXX 50 futures gained 0.1%. U.S. futures saw slight declines, with S&P 500 and Nasdaq futures down 0.1%. Economic Drivers and Concerns U.S. Treasury Yields : Yields on 10-year Treasuries are near eight-month highs at 4.631%, up 75 basis points for the year. Rising yields reflect revised expectations of less restrictive monetary policy, raising concerns about potential impacts on corpo...
Nvidia CEO Jensen Huang has joined forces with Mukesh Ambani, Asia's richest man, to build artificial intelligence (AI) infrastructure in India, aiming to accelerate the country’s adoption of the transformative technology. The partnership was announced at Nvidia's AI summit in Mumbai, where the two executives revealed plans to leverage Nvidia's Blackwell chips in a major data center project spearheaded by Reliance Industries Ltd.
The new 1-gigawatt data center in Gujarat will be among the first to deploy Nvidia's Blackwell chips, highlighting India's potential as a growing AI hub. Huang emphasized that India, already known for exporting software, will soon become a key exporter of AI. Other notable collaborations announced include partnerships with Infosys, Tata Consultancy Services, Flipkart, and Tech Mahindra, signaling Nvidia's deepening engagement with Indian industries.
India’s expanding digital economy is attracting global tech giants like Microsoft and Meta, positioning the country as a strategic alternative to China, amid escalating US-China tensions. Nvidia’s partnerships in India are part of a broader effort to support AI advancements across sectors such as agriculture, healthcare, and e-commerce.
Nvidia has been rapidly expanding its footprint in India, with over 4,000 engineers across multiple cities. The AI infrastructure project is expected to play a critical role in India’s emerging AI ecosystem, supported by the government’s IndiaAI Mission, which has allocated US$1.2 billion to boost AI capabilities in the country.
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