Key Highlights

  • Advanced Micro Devices (NASDAQ:AMD) was up about 3.9% in pre-market on Thursday, November 12, 2026. Broadcom (NASDAQ:AVGO) gained about 3% while Nvidia fell about 11.93% to USD 153.00 in market data.
  • CoreWeave (NASDAQ:CRWV) was down about 7.2% in pre-market, a smaller drop than Nvidia but in the same direction, while Intel and Marvell Technology pointed lower in reports that differed by moment.
  • William Blair upgraded AMD to Outperform from Market Perform on Thursday, the same morning Nvidia announced that co-founder Jensen Huang had resigned as president and chief executive, effective immediately.
  • Nvidia reports third-quarter fiscal 2027 results on November 17, 2026, with CFO Colette Kress serving as interim CEO while the board searches for a permanent successor, with no timetable given.

AMD and Broadcom Rise While the Leader Falls

Nvidia (NASDAQ:NVDA) announced before the US open on Thursday, November 12, 2026 that Jensen Huang had resigned as president, chief executive and director, effective immediately. Market data in the supplied widget showed the stock was trading down about 11.93% at USD 153.00 in pre-market, against a November 11 close of USD 173.73. Other reports put the pre-market drop at about 9% to 12%. Over the same period AMD gained about 3.9% and Broadcom about 3%, as reported. Such a gap suggests some investors were reading the move as a leadership-specific shock to one supplier, not a verdict on AI chip demand. The regular session had not opened, so these moves can change.

William Blair Upgrade and CoreWeave Slide Show Two Sides

A research firm, William Blair, upgraded AMD to Outperform from Market Perform on Thursday. Whether the timing is coincidence or a response to Nvidia's turmoil was not stated in the reports reviewed. CoreWeave was down about 7.2%, and the contrast with AMD is instructive. As a cloud provider built around Nvidia hardware, it is a customer rather than a rival, so uncertainty around its key supplier can weigh on it directly. Intel and Marvell pointed lower in pre-market reports that differed by moment, which is why no single figure is given for either. Nvidia accounts for more than 6% of the S&P 500, according to one strategist, so index-level moves matter too.

What Analyst Cuts and the November 17 Report Test Next

KeyBanc downgraded Nvidia from Overweight to Sector Weight, citing higher strategic, organizational and execution risks if Huang is removed. Bernstein moved to Market Perform and cut its price target to USD 200 from USD 400, as reported. Citi trimmed its target to USD 225 from USD 285. These are data points, not advice. Nvidia has not confirmed any compromise, and the board said earlier it had no reason to believe national security or company secrets were compromised. Harvey C. Jones becomes the board's first chair. Third-quarter fiscal 2027 results on November 17 will show whether customers and suppliers keep ordering as usual during a Leadership search.

Where Things Stand

The split suggests dependence is real but uneven. Nvidia (NASDAQ:NVDA) was down about 11.93% pre-market, AMD and Broadcom were up, and CoreWeave fell about 7.2%, which hints that customers tied closely to Nvidia hardware are more exposed than rival chip designers. This is an early read from pre-market trading on Thursday, November 12, 2026, and the regular session could reshape it. The next markers are the opening session, any board update on the search, and the November 17 results.