Nvidia falls 11% this week as investors rotate into AMD and Broadcom, which are up 30% and 24%
Investors are moving money out of Nvidia (NVDA) and into rival chipmakers after Jensen Huang resigned as CEO.
Nvidia fell 4.3% on Thursday, the day Huang stepped down. Advanced Micro Devices (AMD) rose 5.9% and Broadcom (AVGO) gained 5.5%.
The gap is wider over the whole week. Here are the moves through Thursday's close, with the two main indexes for comparison:
| Company | This week | |
|---|---|---|
| Nvidia | -11% | |
| AMD | +30% | |
| Broadcom | +24% | |
| Texas Instruments (TXN) | +13% | |
| Analog Devices (ADI) | +12% | |
| Taiwan Semiconductor Manufacturing (TSM) | +11% | |
| Nasdaq 100 | +5% | |
| S&P 500 | +3% |
Traders are picking chipmakers that don't have Nvidia's leadership problem.
Farzin Azam, who runs equities trading at Mizuho Americas, told CNBC: "Names such as TSMC, names such as Broadcom, names such as Advanced Micro will come as winners of this because they don't have this overhang of a management disruption."
TSMC makes Nvidia's most advanced chips, but it gains whichever designer wins the orders.
For Nvidia, the selling extends a slide that began in early October. If Friday ends lower, that makes six straight weekly declines, the longest run since 2012.
The stock has lost 29% in that time, about $1.6T in market value, and now ranks behind Apple (AAPL) in market cap.
Nvidia reports third-quarter results on Tuesday, November 17, its first report under interim CEO Colette Kress.
Sources & Further Reading
- "Nvidia's turmoil is prompting a rotation across chip stocks. Here's what we know." CNBC. November 13, 2026.
- "Nvidia on track for longest weekly losing streak since 2012 as market value sinks by $1.6 trillion." CNBC. November 13, 2026.
This article was drafted with the help of AI. Kris Gunnars fact-checked, edited and published the article and is responsible for its accuracy and quality. How we use AI
