AMD Surges 6.3% After Nvidia CEO Jensen Huang Resigns
Updated
Updated · Yahoo Finance · Nov 12
AMD Surges 6.3% After Nvidia CEO Jensen Huang Resigns
3 articles · Updated · Yahoo Finance · Nov 12
Summary
AMD jumped 6.30% after an analyst upgrade, with investors also betting Nvidia's abrupt leadership change could open room for rivals in AI chips.
Jensen Huang resigned effective immediately, and longtime CFO Colette Kress became interim CEO, injecting fresh uncertainty into the sector's dominant AI hardware supplier.
U.S. stocks still rose by midday: the Dow gained 0.29%, the S&P 500 added 0.19%, and the Nasdaq climbed 0.15% as industrials and tech led.
Other AI-linked names moved sharply as HubSpot rose 7.54%, while Super Micro fell 10.25% and Alibaba dropped 6.49% on reports of possible new U.S. curbs on remote access to advanced chips.
The shake-up lands as the 10-year Treasury yield nears 5% and gold falls 3.05%, leaving investors to gauge whether Nvidia's transition, AI spending and higher rates can sustain a year-end rally.