Nvidia's Rivals Are Cashing in on Jensen Huang's Exit. AMD Shares Have Jumped 30% This Week Merin Rebecca Thomas Fri, November 13, 2026 at 6:17 AM EST 5 min read NVDA +2.66% AMD -2.24% AVGO -1.92% TSM +0.89% 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.
Nvidia's leadership crisis is creating an opening for rival chipmakers, with Advanced Micro Devices (AMD) shares surging 30% this week and Broadcom gaining 24% as investors look for companies that could benefit from Jensen Huang's departure.
Nvidia, meanwhile, has lost about 11% this week, with the sharp contrast in share performance showing how investors are shifting their attention within the semiconductor industry. Taiwan Semiconductor Manufacturing Company (TSMC), which produces Nvidia's most advanced processors, has gained 11% over the same period.
The figures, based on trading through Thursday, follow a turbulent week for Nvidia that culminated in Huang's resignation as CEO after revelations about his personal relationships, including one with a woman suspected by U.S. intelligence officials of having ties to Chinese intelligence.
Investors are now weighing whether Nvidia's competitors could gain ground as the company navigates its first major leadership transition in more than three decades.
"What you're seeing in markets now is a bit of a rotation into other advanced chip design companies, on the assumption that this will enable other companies effectively to catch up," Mark Franklin, head of multi-asset solutions for Asia at Manulife Investment Management, told CNBC.
The shift was evident in Thursday's trading. AMD shares climbed 5.86%, while Broadcom rose 5.54%. Nvidia fell 4.34% to close at $166.19, recovering from steeper losses earlier in the session.
Broadcom and AMD are among the companies competing with Nvidia for a larger share of the rapidly expanding AI processor market. Both have attracted investors looking for alternatives to Nvidia as uncertainty surrounds its management and ongoing investigations.
Farzin Azam, managing director of equities trading at Mizuho Americas, said companies without Nvidia's leadership problems were emerging as beneficiaries of the changing market sentiment.
"Names such as TSMC, names such as Broadcom, names such as Advanced Micro will come as winners of this because they don't have this overhang of a management disruption," Azam told CNBC.
The buying has extended beyond companies directly competing to produce advanced AI processors. Texas Instruments has gained roughly 13% this week, while Analog Devices and Germany's Infineon have climbed 12% and 14%, respectively.
Those companies manufacture analog and other semiconductor components used across industries, giving investors exposure to chip demand beyond the race to build increasingly powerful AI processors.
TSMC occupies a different position in the market. It manufactures chips for Nvidia and other major technology companies, allowing it to benefit from semiconductor production demand even when orders shift between competing chip designers.
The bigger question is whether Nvidia can maintain the manufacturing relationships that have helped it stay ahead of its competitors.
Dylan Patel, chief executive of semiconductor research firm SemiAnalysis, said Huang had played a major role in securing scarce production capacity by building relationships with chip manufacturers and component suppliers.
Those connections allowed Nvidia to obtain manufacturing resources ahead of competitors during a period when demand for advanced AI chips far exceeded available supply.
Patel told CNBC that companies including Google and Amazon were already making progress in securing capacity for their own AI processors, and Huang's departure could make it easier for competitors to strengthen their positions.
"If Nvidia can't muster the supply chain, then technology is the only competitive advantage," Patel said.
He questioned whether Nvidia could preserve its technological lead without Huang, arguing that the gap between the company and its closest competitors was narrower than many investors might assume.
Google and Amazon have been developing their own AI chips to support growing data center workloads, while AMD and Broadcom are competing for more business from companies investing heavily in artificial intelligence infrastructure.
For now, however, the share-price movements reflect investor expectations rather than confirmed losses of customers or manufacturing capacity at Nvidia.
The company has moved to reassure customers and shareholders that its operations will continue without disruption.
In a statement Thursday, Nvidia confirmed that Chief Financial Officer Colette Kress would serve as interim CEO while its board searches for a permanent replacement. Kress, who joined the company in 2013, will continue overseeing its finances during the transition.
Harvey Jones, who has been appointed Nvidia's board chair, said the company expected its operations, customer commitments and product roadmap to continue without interruption under the existing leadership team.
Nvidia's board had also launched an independent investigation earlier this week following reports that Huang had been targeted by a foreign intelligence operation. The board said it had no reason to believe national security or company secrets had been compromised, but would examine the available information.
The leadership change comes as major technology companies continue pouring money into AI infrastructure, with competition increasing over who will supply the processors needed for future data centers.
Franklin said major technology companies were planning further increases in AI spending next year, with additional growth possible in 2028. Investors could therefore continue backing the industry while shifting their money toward companies they believe are better positioned to benefit.
Nvidia's next major test comes Tuesday, when the company is scheduled to report its fiscal third-quarter earnings.
The chipmaker has confirmed that it will release results at approximately 1:20 p.m. Pacific Time, followed by an earnings call at 2 p.m. Kress is expected to provide written commentary alongside the results.
Azam said Nvidia's shares appeared relatively inexpensive compared with the company's earnings growth prospects, although its management uncertainty and ongoing investigations could complicate a sustained recovery.
The earnings release will be Nvidia's first since Huang stepped down, with investors looking for indications of whether the company's leadership transition will affect its product plans, customer relationships and outlook for AI chip demand.
