Gotrade News - Nvidia (NVDA) fell 8.61% after hours on Nov 11 following a Wall Street Journal report that its board was preparing to oust CEO Jensen Huang, per TipRanks. As Nvidia stock slid, rivals Advanced Micro Devices (AMD) and Broadcom (AVGO) rose on expectations they could win extra business, per Seeking Alpha.
Nvidia's board met late Wednesday to decide whether to remove Huang, and the company did not immediately comment on the meeting, as reported by Reuters via The Korea Times. The after-hours drop reversed Nvidia's regular-session gain on Wednesday, according to TipRanks.
NVDA, AMD and AVGO Market Data
| Ticker | Close | Daily change | Market cap | 52-week range |
|---|
| NVDA | $173.73 | +2.87% | $4.19 trillion | $164.27 to $243.37 |
| AMD | $552.90 | +7.32% | $906.8 billion | $188.22 to $658.52 |
| AVGO | $345.22 | +3.99% | $1.65 trillion | $289.77 to $495.00 |
Regular-session close on November 11, 2026, New York time. Prices and changes: Yahoo Finance, cross-checked against the closing price on Nasdaq.com. 52-week range: Yahoo Finance daily highs and lows since November 12, 2025. Market cap: that close times the shares outstanding on the latest 10-Q or 10-K cover (SEC EDGAR).
Why Did Nvidia Stock (NVDA) Fall 8.6% After Hours?
Nvidia shares fell after The Wall Street Journal reported that the board was preparing to force Huang out, according to CNBC. Minutes earlier, The New York Times reported that Huang had a romantic relationship with an Nvidia executive, CNBC said, and Reuters said it could not verify the Times report.
CNBC reported a drop of more than 9% in after-hours trading, while TipRanks put the move at 8.61%. Before that drop, the shares were down 7% for the week and on pace for a sixth straight weekly decline, per CNBC.
Huang acknowledged infidelity in a message to Nvidia staff on Sunday, Nov 8, as reported by CNBC:
"I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did." Jensen Huang, message to Nvidia staff, as reported by CNBC
Nvidia has 11 directors, and a majority can remove Huang with or without cause, Reuters reported. Bloomberg reported that the board is working with an outside firm to identify possible replacements, according to Reuters, which also said Huang owns about 3.6% of the stock.
What Did Nvidia's Board Say on Nov 8?
The board opened an independent investigation after reports that Huang had been the target of a foreign intelligence effort, according to the Statement from NVIDIA Board of Directors dated Nov 8. A committee of independent directors, advised by outside independent counsel, oversees the inquiry, and the board said Huang supports the review and has committed to cooperating.
In the same statement, the board said it had no reason to believe national security or Nvidia secrets were compromised, and it expressed confidence in Huang and his leadership team. CNBC reported that the board hired Wachtell, Lipton, Rosen & Katz to look into the spying allegations.
Advanced Micro Devices (AMD): Up 4.36% After Hours
AMD rose 4.36% as investors shifted attention to Nvidia's AI chip rivals amid the leadership uncertainty, as reported by TipRanks. The company competes with Nvidia in AI chips and is expanding its data-center business, TipRanks noted, while Seeking Alpha put AMD's after-hours gain at more than 4%.
Broadcom rose 2.40%, per TipRanks, while Reuters put its after-hours gain at 3%. Broadcom makes custom AI chips for large tech firms and supplies data-center networking products, according to TipRanks, and Seeking Alpha also named Alphabet among the rivals that rose after hours.
Not every AI stock gained. Micron fell nearly 2% and CoreWeave dropped 6% after hours, while Nasdaq futures fell 1%, Reuters reported.
When Does Nvidia Report Earnings?
Nvidia's next quarterly earnings report is scheduled for Nov 17, according to TipRanks. Huang also faces a potential congressional subpoena if he does not respond to a request for a closed-door briefing on the allegations, Reuters reported.
Armina Rosenberg, a portfolio manager at Minotaur Capital, told Reuters that "the market is starting to price Nvidia without its founder as the likely outcome, not a tail risk."
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
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