Stock market today: S&P 500, Nasdaq futures sink as Nvidia CEO turmoil jolts confidence Grace O'Donnell and David Hollerith Updated Thu, November 12, 2026 at 8:22 AM EST 2 min read NVDA -8.31% ^GSPC +1.31% ^DJI +0.49% ^IXIC +1.60% Trade NVIDIA 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 stock futures were mixed in premarket trading on Thursday as reports of Nvidia (NVDA) CEO Jensen Huang's second affair with an executive at the company tanked the chipmaker's stock, dragging the tech sector down with it.
Futures on the S&P 500 (ES=F) fell 0.4%, while contracts for the tech-heavy Nasdaq-100 (NQ=F) dropped 0.8%, backsliding from Wednesday's chip stock-led rally. Futures on the Dow Jones Industrial Average (YM=F) remained in the green.
Nvidia stock tumbled 5.6% in premarket trading as the company's board decided whether to oust Jensen Huang from the top role, raising questions over who could succeed Huang, who has been at the heart of the AI trade since ChatGPT's launch nearly four years ago. Nvidia's web of tie-ups with AI companies also created uncertainty about how great the fallout from Huang's affairs and potential dismissal could be for the market broadly.
Follow the latest developments on Nvidia's CEO here.
Some chipmakers, including Intel (INTC) and Micron (MU) fell, while others, such as Nvidia rival AMD (AMD) rose. In Asia, stocks held steady.
The tumult, which is just the latest incident to raise investor doubts about the artificial intelligence trade that has powered this year's stock market, adds even more pressure for everything to go right in Anthropic's planned public debut next week.
In a related programming note, Yahoo Finance's annual Invest event is here, and we'll be bringing you insights from our conversations with corporate leaders, including AMD CEO Lisa Su, Intel CEO Lip-Bu Tan, Starbucks (SBUX) CEO Brian Niccol, United Airlines (UAL) CEO Scott Kirby, and many others.
Meanwhile, energy prices continued to decline Wednesday with Brent Crude Futures (BZ=F) hovering below $93 per barrel.
While the bond market was closed Wednesday, Wall Street analysts have rapidly adjusted their forecasts for more and bigger interesr rate hikes from the Federal Reserve following Tuesday's hotter-than-expected inflation report.
A more hawkish central bank is viewed as a negative for US borrowers and riskier assets including cryptocurrencies. Most digital asset were in the red early Wednesday with bitcoin (BTC) tumbling overnight. Major index provider MSCI is officially removing bitcoin's biggest bull, Strategy (MSTR), from its USA indices.
The AI trade was on shaky ground Thursday morning as Nvidia (NVDA) stock sank amid uncertainty over CEO Jensen Huang's future at the AI chip giant. Rivals Broadcom (AVGO) and AMD (AMD) pared earlier premarket gains as investors bet Nvidia's troubles could send more chip business their way.
The rest of the AI sector didn't fare well. Shares of Nvidia-backed neocloud provider CoreWeave (CRWV) dropped 10% in pre-market trading on Thursday, giving back some of the prior session's gains sparked by a strong quarterly print. Peer Nebius *(NBIS) also sank.
Other semiconductor names declined. Chip maker Intel (INTC) stock dropped 2%, while shares of Taiwan Semiconductor Manufacturing Company (TSM), which manufactures Nvidia chips, also fell more than 2%. Semiconductor equipment maker ASML (ASML) slipped into red territory.
Storage maker Sandisk (SNDK) dropped 5% in pre-market trading, and memory chipmakers Micron Technology (MU) and SK Hynix (SKHY) declined roughly 4%.
Drumroll please… Yahoo Finance's annual Company of the Year is Anthropic (ANTH.PVT).
In the nearly six years since OpenAI employees broke off and founded the rival AI lab, Anthropic has become one of the key players in the AI race. The company's revenue surpassed $33 billion in the first nine months of the year after Anthropic brought in $2.5 billion the year before.
Yahoo Finance's Dan Howley reports on why Anthropic won Company of the Year:
Anthropic has also drawn its share of controversy ranging from employees predicting that AI could kill all humans to showdowns with the Trump administration.
Despite that, Anthropic's sales continue to improve. Its number of customers spending more than $100,000 has increased from roughly 1,500 in December 2025 to more than 11,900 as of Sept. 30. Its computing efficiency has also jumped, meaning it's seeing more revenue per dollar spent on computing infrastructure.
"There's no real historical analogy for a company that has been this successful this fast," NYU Stern School of Business professor Arun Sundararajan told Yahoo Finance.
Chip stocks spent four sessions clawing out of last week's AI rout. Nvidia's boardroom crisis just pulled the rug out from under them, Yahoo Finance's Jared Blikre reports:
The comeback was fragile to begin with. A Yahoo Finance basket of 62 chip stocks had won back less than a third of the market value it lost from early October to last week's low, and the PHLX Semiconductor Index (^SOX) was still stuck below its 200-day moving average despite a rally of about 17% off that low.
Then came Nvidia (NVDA). The stock tumbled after the bell Wednesday following reports that its board is preparing to oust CEO Jensen Huang, falling below a floor near $164 that had held twice in the past 14 months.
The scandal-plagued chipmaker had already shed about $190 billion in market value since last week's low…
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.
Economic data: Initial jobless claims (189,000 last week), existing home sales
Earnings calendar: Cisco Systems (CSCO), Applied Materials (AMAT), Brookfield (BN), Nu Holdings (NU), Nebius Group (NBIS), Cerebras Systems (CBRS), Korea Electric Power (KEP), QXO (QXO), Brookfield Wealth Solutions (BNT), Dillard's (DDS), Hudbay Minerals (HBM), Stantec (STN), Arrowhead Pharmaceuticals (ARWR), Twist Bioscience (TWST), Companhia Paranaense de Energia (ELPC), Mobility Global (MBGL), Kodiak Sciences (KOD), NIQ Global Intelligence (NIQ)
Yahoo Finance Invest kicks off at 8 a.m. ET. Watch live here.
Catch up on some top stories from overnight:
Nvidia reportedly preparing to oust CEO Huang after alleged affairs with spy, Nvidia exec
Asian stocks fragile, Nvidia plummets as board to decide CEO's fate
Alphabet kicks off Asia bond sale as AI firms face scrutiny
Hugging Face cofounder: Open-weight AI models were 'our savior'
Trump plans to sell public land, reducing size of federal estate
