Midday update
$NVDA is down 4.71% at midday as its board weighs CEO Jensen Huang's future.
$NVDA is down 4.71% at midday as its board weighs CEO Jensen Huang's future. The rest of the chip sector is moving the other way.
- Nvidia trades at $165.55 on heavy volume, a $3.97T market cap. The board is weighing Huang's future after reports of two extramarital affairs, one involving an alleged Chinese intelligence contact. CFO Colette Kress is interim CEO, and analysts warn of further downside if Huang is removed.
- AMD is up 7.15% to $592.45. William Blair upgraded the stock to Outperform from Market Perform, citing Instinct GPU share gains as Nvidia and Intel falter.
- AVGO is up 6.38% to $367.25 with no Broadcom-specific news. It is trading as a direct AI-chip rival seen benefiting from the Nvidia turmoil.
- Nebius is down 16.09% to $129.80. Q3 revenue beat estimates, but 2026 revenue guidance fell to the low end of the $3.0B-$3.4B range on data-center capacity delays and higher spending. Hancock Whitney is down 10.49% after announcing a roughly $3.2B all-stock deal for Trustmark.
- The semiconductor basket averages +1.32%, with 8 of 11 names higher. The S&P 500 is up 0.15% and the Nasdaq is up 0.09%.
The open question is whether the move into Nvidia's rivals holds if leadership uncertainty at Nvidia continues.
Not financial advice. For informational and educational purposes only.
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