Nvidia CEO ouster report hits stock after tech-led rally

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Major stock indexes rose Wednesday, led by technology gains after CoreWeave's upbeat report boosted AI optimism, while the dollar strengthened. Nvidia shares fell 8% after hours on reports its board was preparing to oust CEO Jensen Huang over extramarital affairs. The Nasdaq and S&P 500 each closed over 1% higher, with the S&P 500 tech sector up 2.7%. CoreWeave shares surged 24.7% after projecting profitability by 2028, easing demand concerns. Nvidia had gained 2.9% in regular trading before the report emerged. The Dow rose 0.49% to 52,486.49, and oil prices climbed on Iran nuclear tensions. Hotter-than-expected US inflation cemented expectations for a Fed rate hike next month, with the dollar index up 0.7%.


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