Why Is Qualcomm Stock Surging on Thursday?

November 12, 2026 Kaustubh Bagalkote

Summary

Qualcomm shares are climbing as investors reallocate funds away from Nvidia. This market shift occurs following the sudden resignation of Nvidia leader Jensen Huang after decades at the helm. Rather than exiting the artificial intelligence hardware sector entirely, institutional investors are choosing to diversify into competing chip manufacturers.

Qualcomm Inc. (NASDAQ:QCOM) stock is trading higher on Thursday as investors move capital out of NVIDIA Corp. (NASDAQ:NVDA) and into competing artificial intelligence chipmakers.The move followed Nvidia’s Thursday announcement that co-founder Jensen Huang resigned immediately as President, CEO and Board Member after leading the company for 33 years.Rather than leaving artificial intelligence chip investments, institutional funds reduced concentrated holdings in…

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