7/103 sources · 3 publishersUpdated Nov 12, 17:02 UTC
Memory stocks slide 3% as reports of Nvidia CEO removal spook AI supply chain
Micron Technology, SanDisk and SK Hynix fell about 3% in pre‑market trading after reports that Nvidia’s board was considering the removal of CEO Jensen Huang. The news followed a rally driven by CoreWeave’s strong earnings, which had lifted AI‑related memory stocks the day before. Investors are taking profits and reassessing exposure to the AI hardware supply chain.
Why it matters
The pre‑market price declines show that leadership uncertainty at Nvidia can quickly depress sentiment for its memory‑chip suppliers, creating short‑term downside risk for investors holding these stocks.
Key facts
- 1Micron shares fell 2.51% to $790.92 in pre‑market trading. invezz.com
- 2SanDisk shares fell 2.95% to $948.88 in pre‑market trading. invezz.com
- 3SK Hynix shares fell about 3% to $137.99 in morning trading. 247wallst.com
- 4Reports indicated Nvidia’s board was preparing to remove CEO Jensen Huang. tipranks.com
- 5CoreWeave reported third‑quarter revenue of $3.66 billion, up 168% year over year. tipranks.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.