U.S. Chip Stocks Before and During Trading
After news of Jensen Huang's resignation broke, U.S. stocks took a hit in premarket trading. Nvidia briefly fell more than 10%, several major chip stocks generally dropped 3% to 5%, and cloud companies focused on AI computing fell even further, with Nebius down 20.1% premarket.
After the market opened, things took a different turn. At noon Eastern time on November 12, Nvidia was at $165.6, down 4.66%, after hitting an intraday low of $151.
Intel, TSMC, Micron, and ARM all pared their losses to less than 3%, while AMD rose 6.53%.
Crypto was also falling. Bitcoin on Binance was at $71,682 in the afternoon, down 3.49% over 24 hours, while ETH fell 3.40%.
Related tickers: NVDA, $AMD
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