Softbank shares tanked over 10% because of an Nvidia-centered decline sweeping across Asian semiconductor stocks.

On Friday, a widespread sell-off in the tech sector resulted in a pullback across Asian chip stocks with SoftBank leading the decline. This happened after a night of steep fall for Nvidia going against its robust earnings and optimistic outlook.

In Japan, SoftBank's stock took a big hit and dropped more than 10% on the stock market in Tokyo. The company recently sold off its Nvidia shares but still has Arm, a British semiconductor firm, which supplies Nvidia with chip architecture and design, under its control.

SK Hynix, which is the main supplier of high-bandwidth memory used in AI applications, suffered a drop of 8.76% in its stock value. Samsung Electronics, a competitor that also supplies Nvidia with memory, saw a decrease of 5.77% in its stock price.

The shares of Taiwan Semiconductor Manufacturing Company, the largest contract chipmaker globally, and the one that produces Nvidia’s chip designs, fell 4.81% at the end of the trading day.

Hon Hai Precision Industry of Taiwan, also known as Foxconn, responsible for making server racks designed for AI workloads, slipped downwards by 4.86%.

The major Asian semiconductor giants who have been leading the decline are following Nvidia which lost more than 3% in the U.S. share market on Thursday despite beating Wall Street forecasts in its third-quarter earnings reporting the day before.