Corweave earnings boost AI trade as Nvidia shares swing on leadership news
Major market indices climbed with tech leading the rally, driven by a boost to the AI trade from Corweave's earnings. Nvidia shares rose 3% during regular trading but plummeted in after-hours following reports of board preparations to oust CEO Jensen Huang.
Major market indices climbed with tech leading the rally, driven by a boost to the AI trade from Corweave's earnings, which calmed investor anxieties. Corweave's stock popped 24%. The US dollar climbed towards its highest level since April 2025 as traders solidified bets on a rate hike. NVIDIA shares rose 3% during regular trading hours amid reports that CEO Jensen Huang was back at work projecting business as usual.
However, following breaking news reports of another affair with a direct report and board preparations to oust him, NVIDIA stock plummeted in after-hours trading. On CalShi, 20% of traders believe Jensen Huang will be out before the end of the year. The volatility highlights the sensitivity of the AI sector to leadership stability and corporate governance concerns, even as fundamental earnings from infrastructure providers like Corweave provide a counterweight to sentiment-driven selling.