KOSPI Rebounds More Than 1% After Battle Around 5,000… AI Investment Concerns and Policy Response to Determine Direction

Reports of allegations concerning Nvidia CEO Jensen Huang’s personal life drew market attention as they extended to the company and its China-related export issues. According to the reports, U.S. intelligence agencies are investigating the whereabouts of Nvidia chips and a Singapore-based company run by a woman said to have been involved with Huang. The investigation is reportedly examining possible links to China’s Ministry of State Security, citing the company’s substantial assets relative to its size and the difficulty of verifying its background.

Madison Huang’s planned attendance at Nvidia AI Day Seoul 2026 was canceled for family reasons. Nvidia’s board also decided to conduct an investigation involving outside counsel into possible leaks of internal information or involvement in efforts to circumvent restrictions on exports to China. As the allegations remain under investigation, key questions include whether chips or technology were actually leaked and whether Huang was aware of any such activity.

The matter has prompted speculation that it could expand into the U.S.-China technology conflict, amid attention to Jensen Huang’s political donations and the timing of the reports ahead of the midterm elections. Nvidia reportedly donated 1.5 to 1.6 times as much to Republicans as to Democrats. If U.S. export controls on China become more stringent, semiconductor companies such as SK hynix, which is awaiting approval to bring equipment into its manufacturing facilities in China, could also be affected.

Nvidia shares fell more than 3% in U.S. premarket trading. AI-related stocks have rebounded after recent sharp declines, but have recovered less than half of their losses. Further declines in Nvidia shares could weigh on market sentiment. With Nvidia set to report earnings next week, the progress of the investigation and management’s response have emerged as factors affecting the stock.

Anthropic is reportedly preparing to go public and plans to begin investor roadshows on November 13. According to the Financial Times, the company is aiming to list before U.S. Thanksgiving on November 26. Market estimates of its valuation span a wide range, from $1.1 trillion to $1.75 trillion.

OpenAI’s valuation of about $1.1 trillion in its latest fundraising round has become a benchmark for whether Anthropic can command a higher valuation. Some market participants see around $1.5 trillion as a midpoint, while others believe a valuation of roughly $1.7 trillion is possible. Anthropic could delay the offering if the proposed listing price falls short of expectations, but if the IPO is called off altogether, doubts about the growth prospects of AI companies could deepen.

Anthropic has raised its quarterly revenue forecast twice, reportedly narrowing the gap between annual revenue and spending. The company is also said to be preparing to launch a new model. The IPO’s success will depend not only on the valuation but also on how persuasively the company can present its revenue growth and cost burden to investors.

The first public listing by a frontier AI company could indicate how much capital the AI industry can attract in practice. As the performance of model developers feeds into cloud providers’ computing investment and memory demand, Anthropic’s IPO results are expected to affect investment sentiment across the broader AI ecosystem.