Nvidia's 8% Drop Lifts AMD and Broadcom on Leadership Worries

Nvidia shares plunged over 8% in after-hours trading Wednesday while AMD and Broadcom rose, as investors weighed whether a potential leadership change at the AI chipmaker could benefit its competitors. Nvidia fell 8.61% after closing at $173.73, reversing a 2.87% regular-session gain. AMD climbed 4.36% and Broadcom gained 2.40% following reports that board members considered removing CEO Jensen Huang, though no departure has been confirmed. Huang co-founded Nvidia in 1993 and has led its rise to AI dominance. The board opened an independent investigation after reports of a foreign intelligence operation targeting him, with Nvidia saying no secrets were compromised. Nvidia's CUDA software ecosystem and deep cloud provider relationships may slow rivals' attempts to win customers.