Nvidia board reportedly moves to oust CEO Jensen Huang, sparking sharp stock moves
+5 new sources since this summary was written
Reports say Nvidia’s board met on Wednesday evening to consider removing founder‑CEO Jensen Huang, prompting a pre‑market drop of more than 6% in Nvidia shares. The leadership uncertainty lifted AMD and Broadcom, which rose between 3% and 4% in pre‑market and after‑hours trading. AMD also posted record Q3 2026 revenue of $13.38 billion and forecast Q4 revenue of about $17 billion, reinforcing its appeal as an alternative AI‑chip supplier.
Why it matters
The potential leadership change could disrupt Nvidia’s product roadmap and customer relationships, creating short‑term upside for rivals such as AMD and Broadcom. Investors may re‑price exposure to AI‑chip makers based on the perceived risk to Nvidia’s execution.
Key facts
- 1Nvidia’s board met on Wednesday evening to decide on CEO Jensen Huang’s future. investing.com
- 2Nvidia shares fell more than 6% in pre‑market trading after the reports. investing.com
- 3AMD shares rose 3.6% in pre‑market trading. investing.com
- 4Broadcom shares rose 2.5% in pre‑market trading. investing.com
- 5AMD reported Q3 2026 revenue of $13.38 billion, a 45% year‑on‑year increase. businessday.ng
- 6AMD forecast Q4 2026 revenue of approximately $17 billion, plus or minus 3%. businessday.ng
Open questions
- Material 2 says Nvidia has lost more than $500 billion in market value, while material 3 says the loss swelled to more than $600 billion; both refer to the same basis (market‑value decline).
Summary written by AlphAI AI Desk from 7 of 7 sources. Not investment advice. Figures are as stated by the linked sources.