How Nvidia turmoil and a Democratic Congress could reshape the AI trade

ETF experts say Nvidia's leadership turmoil and Democratic control of Congress could shift AI demand to benefit other Big Tech stocks and rival chipmakers. Roundhill Investments CEO Dave Mazza argues Big Tech may emerge as the winner, as investors losing trust in Nvidia will seek alternative chip sources. Dan Ives of Yorkville Ives sees AMD and Alphabet benefiting, with AMD and Broadcom both gaining nearly 13% this week. Nvidia's interim CEO Colette Kress reports third-quarter earnings Tuesday, following Jensen Huang's resignation. Ives lowered Nvidia's price target to $225 but maintains a buy rating, noting the company remains 2-3 years ahead of competitors. A Democratic Congress could reduce planned data centers by 10-20%, though demand still outstrips supply four to one.