NVIDIA Drops 9.7% as Jensen Huang Resigns: Who Gains From the Selloff
As seen on the 24/7 Wall St. homepage on November 12, 2026.
Leadership risk is repricing the AI trade: Nvidia opened down 9.7% after announcing Jensen Huang's resignation as CEO. CoreWeave also fell, while Broadcom and AMD went the other way, leaving the widest spread across these names at the bell.
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Jensen Huang is stepping down as CEO, and NVIDIA opened 9.7% lower on November 12 as the market repriced the company's risk profile around the face of its AI infrastructure rise.
CoreWeave, a large-scale GPU cloud provider bound tightly to NVIDIA's ecosystem, fell 11.1% at the open, showing how quickly the businesses tied most directly to NVIDIA's direction get marked down alongside it.
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Broadcom climbed 4.4% and AMD rose 2% at the open, and those gains suggest investors are rotating into names they view as less exposed to the leadership uncertainty now surrounding NVIDIA.
The spread between the session's biggest gainers and losers at the open reflects how concentrated the AI trade had become around a handful of names. How NVIDIA's board communicates the leadership transition in the coming days determines whether this opening move holds or reverses.
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