AMD Shares Jump 30% After Nvidia CEO Jensen Huang Resigns
Updated
Updated · The Washington Post · Nov 12
AMD Shares Jump 30% After Nvidia CEO Jensen Huang Resigns
3 articles · Updated · The Washington Post · Nov 12
Summary
AMD stock has climbed more than 30% in recent days as investors wager the AI chipmaker will gain from Nvidia’s leadership crisis.
Jensen Huang resigned Thursday, four days after admitting infidelity amid reports he had a relationship with a technology executive at an Nvidia customer suspected by the U.S. government of being a Chinese spy.
The rally extends an earlier market move: AMD and Broadcom had already risen in premarket trading while Nvidia fell 5.7% on reports its board was preparing to oust Huang.
AMD is Nvidia’s main rival in AI chips, and the upheaval has sharpened bets that customers and investors could shift toward Lisa Su’s company.