7/106 sources · 5 publishersUpdated Nov 12, 18:16 UTC
Nvidia CEO resignation triggers sell‑off in memory‑chip stocks
Nvidia announced that long‑time chief executive Jensen Huang will step down, naming CFO Colette Kress as interim CEO. The news rattled the AI‑chip supply chain, sending Micron Technology, SanDisk and SK Hynix lower in pre‑market trading on Thursday. The decline followed a strong rally the previous day after CoreWeave’s earnings beat.
Why it matters
The drop reduces the market value of the affected memory companies and may increase short‑term volatility for investors holding MU, SNDK or SKHY. Micron’s guidance of $61.5 billion fiscal Q1 2027 revenue and $38.15 non‑GAAP EPS sets expectations for the next quarter.
Key facts
- 1Nvidia’s chief executive Jensen Huang resigned, with CFO Colette Kress named interim CEO. theglobeandmail.com
- 2Micron Technology shares fell 2.51% to $790.92 in pre‑market trading. invezz.com
- 3SanDisk shares fell 2.95% to $948.88 in pre‑market trading. invezz.com
- 4Micron’s stock dropped 5.3% in the morning session after the news. theglobeandmail.com
- 5Micron shares fell 3.24% to $785. finance.yahoo.com
- 6Micron expects fiscal Q1 2027 revenue of $61.5 billion and non‑GAAP EPS of $38.15. finance.yahoo.com
Summary written by AlphAI AI Desk from 6 of 6 sources. Not investment advice. Figures are as stated by the linked sources.