European tech shares fall as Nvidia board weighs ousting Jensen Huang Nvidia shares fell more than 8% in after-hours trading on Wednesday after reports that its board was weighing whether to oust CEO Jensen Huang. European tech shares mostly fell on Thursday, and US stock futures edged lower. Doloresz Katanich Thu, November 12, 2026 at 3:44 AM EST 3 min read NVDA -3.94% ASM.AS -1.18% STM 0.00% ASML +0.74% ^STOXX +0.34% 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.
Leading European stock indices opened higher on Thursday, but chip stocks fell. The STOXX Europe 600 Technology index (SX8P), the benchmark for European tech shares, was down 1.3% shortly after 9:00 CET.
At the open, ASM International fell 2.9%, STMicroelectronics lost 2.6% in Paris and ASML fell 2.5% in Amsterdam.
Shortly after the European open, London's FTSE 100 was up about 0.2%, Frankfurt's DAX 40 was up more than 1%, and Paris's CAC 40 was up 0.5%.
Tech shares with ties to the AI industry came under pressure after Nvidia fell more than 8% in after-hours trading on Wednesday. The drop followed a report in The Wall Street Journal that the chipmaker's board was preparing to oust CEO Jensen Huang. Nvidia shares had closed up 2.9% at $173.73 in regular US trading.
The board met late Wednesday US time to decide whether to remove Huang, Reuters reported, citing a person familiar with the matter.
The shares had closed up 2.9% at $173.73 in regular US trading.
Huang, who co-founded Nvidia in 1993, has become synonymous with the company. Its dominance in chips used to train AI models has made Nvidia the poster child for the AI boom.
With no obvious successor, Huang's potential departure would leave a leadership vacuum at the roughly $4 trillion chipmaker. And a change in leadership could also have repercussions across the industry.
On Sunday, Nvidia's board announced an independent investigation following reports that Huang had been targeted by a foreign intelligence effort. The board said it had no reason to believe company secrets or US national security had been compromised and expressed confidence in Huang.
Huang has acknowledged an extramarital affair. Reuters reported that the woman involved was suspected of spying for China.
Separately, The New York Times reported on Wednesday, citing five people who had worked at Nvidia, that Huang was also involved in a second extramarital affair, with the company's vice president of health care, Kimberly Powell.
Asian shares mostly fell on Thursday as uncertainty over Nvidia's leadership weighed on AI stocks.
In morning trading, Taiwan's Taiex fell 2.6%, Hong Kong's Hang Seng lost 1.2% and Japan's Nikkei 225 slipped 0.7%. The Shanghai Composite fell 0.6%, South Korea's Kospi slipped 0.2% and Australia's S&P/ASX 200 edged down nearly 0.1%.
US futures were mixed at the time of the European open, with futures on the tech benchmark Nasdaq 100 trading down 0.9%.
On Wall Street, the Nasdaq Composite gained 1.6% on Wednesday, the S&P 500 rose 1.3% and the Dow Jones Industrial Average added 0.5%. CoreWeave, which rents access to AI chips through its cloud platform, jumped 24.7% after reporting a smaller quarterly loss than analysts had expected. The US bond market was closed for Veterans Day.
The rally extended a rebound in AI stocks after last week's sell-off, when the Democratic sweep of Congress raised concerns about tighter regulation. Investors are also weighing whether demand for AI will generate enough profit to justify the industry's heavy spending.
Benchmark US crude was up by 0.3% to $86.80 a barrel. Brent crude, the international standard, was up by 0.5% at $93.21 a barrel. Brent has fluctuated within a range of $72 to $120 since the war with Iran pushed prices much higher.
Benchmark US crude was up 0.3% at $86.80 a barrel. Brent crude, the international benchmark, was up 0.5% at $93.21 a barrel. Brent has traded between $72 and $120 a barrel since the Iran war pushed prices higher.
In currency trading, the dollar edged down to ¥159.78 from ¥159.79, while the euro slipped to $1.1080 from $1.1091.
