Nvidia CEO Jensen Huang resigns, sparking a rally in AMD and Broadcom shares
+1 new source since this summary was written
On November 12 Jensen Huang stepped down as Nvidia’s chief executive, with CFO Colette Kress named interim CEO. The leadership change prompted William Blair to upgrade AMD to Outperform, and analysts raised AMD’s price target. AMD’s stock jumped in pre‑market trading while Nvidia fell sharply, and Broadcom also rallied on expectations of gaining AI‑chip business.
Why it matters
The upgrade and price‑target lift signal that analysts expect AMD to capture market share from Nvidia, which could boost AMD’s earnings. Broadcom’s share rise reflects a similar bet that it may win AI‑chip orders as customers diversify away from Nvidia. Nvidia’s stock decline highlights the downside risk from leadership uncertainty.
Key facts
- 1Jensen Huang resigned as Nvidia CEO on November 12, and CFO Colette Kress became interim CEO. investing.com
- 2William Blair upgraded AMD to Outperform on November 12. schaeffersresearch.com
- 3AMD shares rose 1.6% in pre‑market trading after the upgrade. schaeffersresearch.com
- 4Nvidia shares fell about 14% in early US trading after the resignation. openthemagazine.com
- 5Broadcom shares rose about 5% to $363.99 following the news. 247wallst.com
- 6Broadcom’s AI semiconductor revenue was $16.7 billion in Q3 FY2026, up 221% year over year. 247wallst.com
Summary written by AlphAI AI Desk from 8 of 8 sources. Not investment advice. Figures are as stated by the linked sources.