US Stock Indices Pare Losses
US stock indices pared losses on Thursday as markets assessed the AI infrastructure landscape after Jensen Huang resigned as CEO of Nvidia. The S&P 500 and the Nasdaq 100 inched above the flatline, while the Dow rose 0.5%. Nvidia was down 5% after losing up to 14% earlier in the session as CFO Colette Kress was named interim CEO following Huang's resignation over his involvement with a Megaspeed executive suspected of being a Chinese spy. Huang's stewardship saw Nvidia's participation in and orchestration of massive circular investments across all tiers of the AI sector, implicating global financial markets in the leadership change. Still, competitors AMD and Broadcom rose 6%, while Alphabet's investment in TPU production drove its shares up 2%. Meanwhile, Nebius sank nearly 10% after reporting delays in some data center capacity buildouts. Other sectors rebounded from Tuesday's selloff, which had been triggered by a hot CPI reading that bolstered bets on more Fed rate hikes next year.
US stock indices pared losses on Thursday as markets assessed the AI infrastructure landscape after Jensen Huang resigned as CEO of Nvidia. The S&P 500 and the Nasdaq 100 inched above the flatline, while the Dow rose 0.5%. Nvidia was down 5% after losing up to 14% earlier in the session as CFO Colette Kress was named interim CEO following Huang's resignation over his involvement with a Megaspeed executive suspected of being a Chinese spy. Huang's stewardship saw Nvidia's participation in and orchestration of massive circular investments across all tiers of the AI sector, implicating global financial markets in the leadership change.
Still, competitors AMD and Broadcom rose 6%, while Alphabet's investment in TPU production drove its shares up 2%. Meanwhile, Nebius sank nearly 10% after reporting delays in some data center capacity buildouts. Other sectors rebounded from Tuesday's selloff, which had been triggered by a hot CPI reading that bolstered bets on more Fed rate hikes next year.