Krispy Kreme Has Outgained Nvidia So Far in 2026

As seen on the 24/7 Wall St. homepage on November 7, 2026.

A beaten-down doughnut chain is beating the AI bellwether, a sign that 2026's leadership has rotated away from the megacap trade.

JUST IN: Krispy Kreme stock has outgained Nvidia this year

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A doughnut chain that spent much of recent memory as a beaten-down small-cap has delivered better year-to-date returns than the chip giant that defined the previous bull run.

That rotation, from high-flying megacap tech toward overlooked consumer names, is where active investors look for momentum that has quietly moved. Krispy Kreme leading Nvidia year-to-date shows the market's center of gravity has shifted in a way passive, index-heavy portfolios do not fully reflect.

Sources

Mentioned: DNUT, NVDA

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Charlie Bilello @charliebilello

10:14am ET

A decade in bonds returned 16%, less than half the 39% rise in US inflation, while NVIDIA compounded past 11,000%.

Last 10 Years... NVIDIA $NVDA: +11,159% Bitcoin $BTC: +10,587% $AMD: +6,745% Tesla $TSLA: +2,720% Apple $AAPL: +1,269% Microsoft $MSFT: +918% Google $GOOGL: +636% Amazon $AMZN: +588% Meta $META: +410% S&P $SPY: +313% Gold $GLD: +199% US Inflation: +39% US Bonds $AGG: +16%

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Charlie Bilello @charliebilello

10:04am ET

A 6% dip in the S&P 500 hid a full-blown bear market in chip equipment names, with Lam Research down 58% from its high at Thursday's low. Dip buyers are picking from very different discount racks.

% Below All-Time High (@ Nov 5 Correction Low) S&P 500: -6% Nasdaq 100: -15% Nvidia $NVDA: -26% Taiwan Semi $TSM: -28% SK Hynix $SKHY: -39% AMD $AMD: -39% Broadcom $AVGO: -41% Micron $MU: -48% Applied Materials $AMAT: -57% Lam $LRCX: -58% Intel $INTC: -64% Sandisk $SNDK: -66%

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PODCAST Mad Money w/ Jim Cramer Jim Cramer · 45 min

Nov 6, 7:06pm ET

Mad Money w/ Jim Cramer 11/6/26

Cramer calls Friday's tech bounce a dead cat bounce, with sellers waiting on any data-center recovery
Cisco seen as oversold after falling from $230 back to the 90s; he'd buy a small position
Applied Materials at $332 versus its $740 summer peak is not automatically a buy
Neocloud earnings from CoreWeave and Nebius framed as the week's real test on debt costs

Cramer is telling holders of AI infrastructure names that the washout is unfinished, and that a strong jobs report did nothing to help. The one place he is willing to put money is Cisco, which he thinks has been dragged down with everything else. Applied Materials gets the opposite treatment: its lower price still looks expensive because the old price was built on a squeeze.

NVDA NVIDIA

Regular session

Nov 5, 3:20pm ET

$183.90

-6.17% open $196.00

A 6.17% intraday slide to $183.90 from a $196.00 open is a rare single-session drop for a $4.4 trillion company, and it sets the tone for AI chip sentiment everywhere else.

NVDA NVIDIA

Regular session

Nov 5, 10:40am ET

$184.96

-5.64% open $196.00

A 5.6% slide to $184.96 takes roughly a quarter trillion dollars off the $4.5 trillion AI bellwether in one session, the kind of single-day move that drags index funds with it. No confirmed catalyst yet, so watch whether $196 gets reclaimed.

Reddit Pulse r/stocks

Nov 5, 10:34am ET

Anybody buying the dip

u/Ok_Criticism_558 182 upvotes 341 comments

The dips keep on dipping

u/96Nikko 255

With AI names down 10% or more, 341 comments argue over whether regulatory noise justifies the selloff, and the top replies show retail is out of dry powder. Dip buying only works if you still have cash when the dip arrives.

Wall St. Engine @wallstengine

Nov 5, 8:41am ET

Renting 8,000-plus Blackwell GPUs from European neoclouds would route Chinese AI demand around chip export limits, the exact workaround Washington and Nvidia's own customer rules are trying to close.

MOONSHOT SEEKS $NVDA BLACKWELL ACCESS IN EUROPE Chinese AI lab Moonshot, the developer of Kimi, has held talks to rent clusters of 8,000+ Nvidia Blackwell GPUs from European 🇪🇺 neoclouds, primarily for inference and potentially training, CNBC reports. The White House previously https://t.co/BJ2Vamw18X

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DeItaone @deitaone

Nov 5, 8:39am ET

Renting compute abroad is the loophole Washington has not closed yet, and any move to shut it would hit demand for Blackwell capacity in European data centers.

CHINESE AI LAB SEEKS NVIDIA BLACKWELL CHIPS THROUGH EUROPEAN DATA CENTERS China's Moonshot AI has reportedly explored renting Nvidia's advanced Blackwell computing capacity in Europe, potentially circumventing US restrictions on chip exports to China. According to CNBC,

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PODCAST Mad Money w/ Jim Cramer Jim Cramer · 44 min

Nov 4, 7:32pm ET

Mad Money w/ Jim Cramer 11/4/26

Cramer ties Apple's 5.3% jump and record high to hopes midterm results slow data center building and cap DRAM prices
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AMD's big beat finished up only 1%; Nvidia fell 6.5% on the day, down from $239 to about $200

Cramer's read flips the AI trade on its head: regulation that curbs data center construction relieves memory costs for Apple and spending pressure for Microsoft and Amazon, while hitting the chipmakers that need the build to continue. He cautions the move is only a one-day trade, with Friday's payroll report capable of undoing much of it.

PODCAST Mad Money w/ Jim Cramer Jim Cramer · 44 min

Nov 3, 7:34pm ET

Mad Money w/ Jim Cramer 11/3/26

Cramer calls the mega caps millstones: Nasdaq rose 0.83% while the Dow fell 197 points
Strong after-hours results from AMD and Arista Networks as proof non-Magnificent-Seven tech can lead
Oracle's $10 billion block priced at $116 and traded to $126, a sign buyers see a floor in tech
Wants a crescendo washout before committing more; Apple's reaction and a Palantir selloff weighed

The leadership baton is being passed to second-tier data center names, and Cramer would rather own companies with clean balance sheets than the big caps issuing debt and equity to stay in the AI race. He is not calling a bottom yet: without a high-volume reversal day, he keeps money elsewhere.

Reddit Pulse r/stocks

Nov 3, 3:51am ET

This Market Genuinely Makes no Sense

u/TargetBan 157 upvotes 166 comments

"This Market Genuinely Makes no Sense" First time here?

u/Jebusfreek666 263

A 166-comment argument over whether AI chipmakers and hyperscalers at teens-to-low-20s P/E are now cheaper than Wingstop, Cava and Starbucks at 34 to 100-plus. The pushback is worth reading: defensive and restaurant multiples only look safe until you price the growth you are paying for.