Stock market today: Nvidia slides following reports of CEO's second affair, possible removal Grace O'Donnell , David Hollerith and Ines Ferré Updated Wed, November 11, 2026 at 6:30 PM EST 1 min read NVDA -5.11% ^IXIC +1.60% ^DJI +0.49% ^GSPC +1.31% CRWV +17.59% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
US stocks rose on Wednesday as Nvidia (NVDA) and other chip stocks bounced higher, while investors shifted their bets toward a Fed rate hike next month. The stock market was open on Veterans Day; however, the bond market was closed.
The Dow Jones Industrial Average (^DJI) rose 0.5%, while the S&P 500 (^GSPC) climbed 1.3%. The tech-heavy Nasdaq Composite (^IXIC) added 1.6%, officially erasing its post-election losses as of Wednesday's close.
As Anthropic's (ANTH.PVT) hotly anticipated IPO draws nearer, the AI trade remains front and center, particularly after the midterm elections have brought the country to a crossroads on the data center build-out.
Nvidia stock, once the darling of the AI trade, rebounded after two straight days of substantial losses amid its spy-plot fiasco involving CEO Jensen Huang. Still, Nvidia stock remains down about 12% in November.
Go deeper with AlphaSpace 25,466.19 +400.31 (+1.60%) At close: 5:15:59 PM EST ^IXIC ^GSPC ^DJI CoreWeave (CRWV) stock surged 24% after the company reported a better-than-expected revenue outlook on the back of strong AI compute demand.
Otherwise, it was a quiet day on the earnings and economic data front as traders recalibrated their bets for higher interest rates following hotter-than-expected CPI inflation data.
Embattled Nvidia (NVDA) CEO Jensen Huang was allegedly involved in a second extramarital affair.
The company's board is reportedly meeting to determine if it will oust Huang as chief executive, the Wall Street Journal reports. Nvidia stock fell in after-hours trading following the report.
According to the New York Times, Huang, whose relationship with a woman alleged to be a Chinese spy has embroiled the company in scandal this week, also had a relationship with Nvidia executive Kimberly Powell.
She joined Nvidia in 2008 and heads up the company's healthcare business.
The Times report says that Huang and Powell were seen being affectionate at a hotel during a company conference in March, and that when a bystander took a photo of the interaction, a security guard "sequestered them" and made them an offer to sign a nondisclosure agreement.
Semiconductors led a stock market rally on Wednesday after CoreWeave's better-than-expected earnings reignited the AI trade.
The Dow Jones Industrial Average (^DJI) rose 0.5%, while the S&P 500 (^GSPC) climbed 1.3%. The tech-heavy Nasdaq Composite (^IXIC) added 1.6%, officially erasing its post-election losses on Wednesday.
Go deeper with AlphaSpace 173.73 +4.93 (+2.92%) At close: 4:00:00 PM EST 160.17 -13.56 (-7.81%) After hours: 6:39:40 PM EST Nvidia (NVDA) snapped a two-day losing streak, gaining more than 3%. Shares of chipmakers AMD (AMD) and Broadcom (AVGO) also rallied. Storage maker Sandisk (SNDK) and memory chipmakers Micron Technology (MU) and SK Hynix (SKHY) all gained more than 10%.
Bitcoin (BTC-USD) gained more than 1% to hover near $74,500 per token on Wednesday as investors went risk-on.
Technology stocks led the market gains, while crypto prices also bumped higher. Ether (ETH-USD) also jumped 1% to hold above $2,000 per token.
Nvidia's (NVDA) loyal investor base is starting to get antsy about the endgame for newly embattled CEO Jensen Huang.
Huang admitted to the affair on Sunday in an email to employees. Nvidia stock is down about 12% since the situation became public.
"At this point, the market is pricing in two major potential headwinds," strategists at the Kobeissi Letter said. "First, the growing possibility that Jensen Huang will be removed as CEO. Second, [the] possibility that sensitive Nvidia technology or information was compromised."
Nvidia's board of directors launched an independent investigation into reports that the woman Huang had an affair with was allegedly a spy for the Chinese government.
AI power-provider stocks rallied on Wednesday after CoreWeave (CRWV) posted earnings that eased worries about how data center build-outs get funded. Bloom Energy (BE) was one of the biggest winners, jumping about 16% by midday.
Bloom's third quarter earnings, announced in late October, were a mixed picture. On one hand, the company, which designs, manufactures, and installs solid oxide fuel cells, reported record revenue of $1.24 billion, up 138% from a year earlier, and raised its 2026 revenue guidance for the third time this year, to $4.4 billion to $4.6 billion. It was also added to the S&P 500.
On the other hand, Bloom burned cash. Operating cash flow was negative $27.1 million, and capital expenditures rose to $153.5 million, nearly triple its second quarter capex.
Wall Street analysts have rapidly adjusted their forecasts after the third straight month of bad inflation news.
The affordability crunch featured as a core issue steering voters in the midterm elections. And those frustrations were echoed in the latest inflation data, showing price increases in food, rent, medical care, and electronics.
As Bank of America analysts put it in a note on Tuesday, "goods prices are becoming a problem (again)," and the recent inflation firmness is spreading to more things that Americans both need and want to buy.
Wall Street has already figured that rising costs have all but secured another rate hike in December. But the fresh inflation numbers were so discouraging that analysts are changing their projections or contemplating more and bigger rate hikes.
Everyday investors could pour a record $250 million into Anthropic shares on its first trading day, according to Vanda Research.
The estimate, which would be more than double the $118 million in net retail buying the first day of SpaceX's June listing, hinges on a surge in derivatives trading tied to Anthropic's yet-to-be listed shares on crypto exchange Hyperliquid.
Trading volume in this Anthropic-linked instrument reached a record $270 million on Tuesday, nearly triple last week's daily volumes, according to Vanda strategist Viraj Patel.
Vanda found that retail stock trading activity on the opening days of recent IPOs, including SpaceX, was roughly five times the peak daily trading volume in their pre-IPO derivatives. Applied to Anthropic, the assessment would suggest $250 million in net buying on its listing day planned for next week.
The projection carries considerable uncertainty. The derivatives trading represents an indirect gauge of investor enthusiasm, and patterns from previous IPOs may not repeat.
Anthropic is targeting a valuation of $1.4 trillion, below the $2 trillion previously discussed, as the AI industry has faced headwinds from rising borrowing costs, hedge fund deleveraging, and political backlash over data center construction.
CoreWeave (CRWV) stock extended gains in midday trading on Wednesday, surging as much as 25% after the AI infrastructure provider raised its revenue outlook and prepayments, helping ease concerns about its ability to finance its rapid expansion.
The company also said it expects about $9 billion in customer prepayments and deposits over the next three months, and said it does not plan to take on more expensive debt through 2027, easing concerns about how it will fund its expansion.
CoreWeave shares have been battered in recent weeks amid concerns about rising financing costs and its debt-heavy balance sheet. Its bonds have sold off sharply, underscoring investor concerns about the cost of funding its expansion.
Go deeper with AlphaSpace 60.77 +12.04 (+24.71%) At close: 4:00:01 PM EST 57.30 -3.47 (-5.71%) After hours: 6:39:30 PM EST Today at 4:11 PM UTC Paige Oamek D-Wave stock rises, Rigetti shares fall as quantum company earnings divide investors Quantum-related stocks moved in different directions on Wednesday after D-Wave Quantum (QBTS) and Rigetti Computing (RGTI) posted third quarter results.
After the close on Tuesday, Rigetti stock fell on an earnings miss and fears of elevated capital expenditures. The company reported an adjusted loss per share of $0.06, compared to estimates for a $0.05 loss. Similarly, D-Wave fell short of analysts' consensus earnings per share estimate, posting an adjusted loss per share of $0.13 versus analysts' estimate of a $0.10 loss.
However, investors seemed willing to look on the bright side of D-Wave's report. The company posted revenue of $4.5 million, an increase of 21% year over year and an impressive 611% year-over-year increase in bookings.
Rigetti, meanwhile, reported revenue of $1.4 million, missing analyst consensus estimates of roughly $3.5 million by a wide margin.
Confidence (and maybe a little short covering) returned to the AI trade on Wednesday, thanks to CoreWeave's (CRWV) updated revenue outlook and prepayments that eased AI financing concerns.
The results lifted neocloud companies — cloud infrastructure providers that are solely focused on AI workloads — across the board. They bode especially well for Nebius (NBIS), which reports results before the bell on Thursday.
CoreWeave stock itself jumped 19%. Nebius surged 15% in early trading.
Watch 8:30 hosts Julie Hyman, Pras Subramanian, and Jake Conley discuss Wall Street's reaction to CoreWeave's (CRWV) Q3 earnings report >
Nvidia (NVDA) stock rebounded on Wednesday as the overall chip sector surged on the heels of CoreWeave's (CRWV) better-than-expected quarterly results, Yahoo Finance's Ines Ferré reports:
Nvidia shares rose for the first time since CEO Jensen Huang admitted to an affair with a woman suspected of being a Chinese spy, rising roughly 5% after two straight days of declines.
A company board investigation, increased scrutiny from lawmakers and questions over whether restricted semiconductors were diverted to China have weighed on the stock in recent sessions.
Even with the bounce, Nvidia is down about 14% in November and has lost about $700 billion in market value. The rally also came despite a downgrade on the stock from Baird to Neutral.
Go deeper with AlphaSpace 173.73 +4.93 (+2.92%) At close: 4:00:00 PM EST 160.17 -13.56 (-7.81%) After hours: 6:39:40 PM EST Read more.
US stocks edged higher at Wednesday's open with Nvidia (NVDA) and other AI stocks rebounding, and investors weighed the prospect of further Federal Reserve rate hikes.
The S&P 500 (^GSPC) climbed 0.9%, while the tech-heavy Nasdaq Composite (^IXIC) added 1.5%. Meanwhile, the Dow Jones Industrial Average (^DJI) fell slightly by 0.1%.
Go deeper with AlphaSpace 52,486.49 +254.60 (+0.49%) At close: 4:43:58 PM EST ^DJI ^GSPC ^IXIC The gains followed Tuesday's sell-off, when hotter-than-expected inflation data sent Treasury yields soaring and raised expectations of a Fed rate hike next month.
Nvidia shares jumped more than 3% after two days of steep losses, while CoreWeave (CRWV) rallied on an upbeat revenue outlook.
The stock market will open for its usual hours of 9:30 a.m. to 4 p.m. ET today.
The bond market, however, will be closed for Veterans Day.
The remaining stock market holidays for 2026 are Thanksgiving Day, Thursday, Nov. 26, and Christmas Day, Friday, Dec. 25.
Read more about when 2027's market holidays will be >
Let Wall Street analyst downgrades begin on the once-untouchable Nvidia (NVDA) stock in the wake of CEO Jensen Huang's high-profile affair.
Baird analyst Tristan Gerra cut his rating on Nvidia to Neutral on Wednesday in a note titled, "Icarus' Rise and Fall; Company Will be Fine."
"Downgrading to Neutral until uncertainties regarding U.S. government action likely resulting from the upcoming congressional hearing are lifted, U.S. government investigations reach their conclusions, revenue impact from risk channel near-term adjustments along with potential charges is quantified, and uncertainties around CEO tenure clear," Gerra wrote.
Anthropic's roadshow is selling the future of AI. Four centuries of hot IPOs say the first trade is rarely the best one.
The AI lab is asking for as much as $1.4 trillion at the top of its $70-to-$78 range, counting every possible share. Trading could start as soon as next week. Rival OpenAI (OPAI.PRV) may not be far behind: OpenAI president Greg Brockman said last week the company could be ready to go public next year.
History has a warning for anyone planning to buy on the first day. The world's first IPO, the Dutch East India Company, began trading in 1602. Its stock took about three decades to double.
This year brought two fresh reminders. SpaceX (SPCX) opened at $150 in June, $15 above its IPO price, and soared about 40% in its first week. By August, it was in a nearly 30% hole. Five months later, SpaceX is still below its first trade.
Cerebras (CBRS) had it worse. The AI chipmaker opened at nearly double its $185 IPO price in May. Its first close is still its best, and the stock now trades at about half what IPO buyers paid.
The S&P 500 (^GSPC) could be a tough one to rally around in 2027.
"We're not particularly bullish on the index," Bank of America head of US equity and quantitative strategy Savita Subramanian said on Sozzi Unleashed. "I think the index itself is a bit risky because the other thing that I worry about is we've been in a 30-, 40-year period where we've seen S&P index inflows every year. We've never been in a market environment where the index has seen outflows. So I worry about that to some extent, because we're now at a point where investors are fairly saturated in equities across the board. You look at individuals, you look at asset owners and what's the most crowded equity ticker in the world … it's the S&P 500 index."
The S&P 500 is up 9.5% year to date, outperforming the Dow Jones Industrial Average's (^DJI) 8.5% advance and the 7.5% rise for the Nasdaq Composite (^IXIC).
Subramanian warned, "So if you need to raise capital to meet your yield obligations or whatnot, I think that that's where things get a little bit interesting in terms of outflows. And that's where we see some risks to this thesis that the S&P 500 is just going to go up forever."
Economic data: MBA 30-year mortgage rate (7.3% last week)
Earnings calendar: Franco-Nevada (FNV), Vylor (VYLR), CGI (GIB), Tetra Tech (TTEK), CAE (CAE), Corteva (CTVA), OR Royalties (OR)
Catch up on some top stories from overnight:
Wall Street regulator poised to bring charges against Kalshi, Politico reports
Bond yields surge most in 19 months as traders brace for Fed rate hikes
Fed's Bowman says inflation is broadening, rate hikes may be needed
Why this top Wall Street strategist isn't bullish on the S&P 500 for 2027
BofA warns the S&P 500 itself is 'the most crowded equity ticker in the world'
