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Nvidia stock slides after hours on reports the board may oust Jensen Huang, while chip stocks rally on AI demand

Published November 12, 20264 min read

An empty boardroom chair sits before a conference table, with blurred server racks beyond a glass wall. — A vacant boardroom seat evokes Nvidia’s reported leadership uncertainty amid a rally in AI-related chip stocks. Illustration: MarketIntelLabs

The AI-compute trade got re-rated higher on Wednesday, and then ran straight into a governance story that has nothing to do with demand. Semiconductors carried the market up on a CoreWeave earnings beat, and then Nvidia, the very stock at the center of the rally, tumbled after hours on reports that its board is preparing to oust chief executive Jensen Huang. The two headlines collide against what is shaping up to be a busy second half of the week, with Applied Materials' earnings and Friday's October PPI as the next tests.

Key Takeaways SPY rose 1.32% to $759.81 on Wednesday and the Nasdaq 100's QQQ jumped 2.31% to $690.38, erasing its post-election losses. A CoreWeave earnings beat re-rated…

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