Nvidia Loses Its Founder, AMD and Broadcom Take the Crown: This Week on Wall Street
Summary
Nvidia experienced a major leadership shakeup this week after its chief executive officer stepped down following the launch of an internal investigation. As markets reacted to the sudden departure, investors shifted their focus toward rival semiconductor companies like AMD and Broadcom.
For three years, Wall Street bought the artificial intelligence boom through one ticker. This week, it went shopping for substitutes. Nvidia Corp. (NASDAQ:NVDA) founder Jensen Huang resigned as CEO and board member Thursday after the board opened a probe into reports that he had been targeted by a foreign intelligence effort. Chief financial officer Colette Kress is now interim CEO.…
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