AMD, Broadcom stocks jump as Nvidia CEO Jensen Huang resigns Ines Ferré · Senior Business Reporter Thu, November 12, 2026 at 9:52 AM EST 1 min read AVGO +4.92% NVDA -6.33% SPCX +3.37% AMD +2.55% 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.
AMD (AMD) stock rose about 3% while Broadcom (AVGO) jumped as much as 6% Thursday morning following news that Nvidia CEO Jensen Huang resigned and the company board named CFO Colette Kress as interim chief executive officer.
The companies are rivals to Nvidia (NVDA). The price action extended gains from Wednesday.
Huang's resignation came amid reports that he had an affair with a fellow executive at the AI giant and after he admitted to having a separate affair believed to be with a woman whom US intelligence officials reportedly said was a Chinese spy.
Shares of SpaceX (SPCX) popped 2% Thursday as investors speculated that Elon Musk and Jensen Huang could eventually work together. The speculation followed an X post from Musk, who replied "That would be an honor" to a ZeroHedge post urging, "Elon, please hire Jensen."
Go deeper with AlphaSpace 362.19 +16.97 (+4.92%) As of 10:00:03 AM EST. Market Open. AVGO NVDA AMD Sentiment around the rest of the AI trade, however, soured, particularly among companies in which Nvidia has invested.
Shares of Nvidia-backed neocloud provider CoreWeave (CRWV) dropped 12%, giving back some of the prior session's gains sparked by a strong quarterly print. Peer Nebius (NBIS) also sank 19%.
Meanwhile, 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 7% in early trading, and memory chipmakers Micron Technology (MU) and SK Hynix (SKHY) declined roughly 3%.
Intel (INTC) stock dropped 3%, Nvidia is an investor in the US-based chip maker.
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