US equities recovered from early weakness on Thursday as investors reassessed the AI infrastructure landscape following Jensen Huang’s resignation as Nvidia’s CEO. The S&P 500 and Nasdaq 100 both edged slightly into positive territory, while the Dow Jones Industrial Average advanced 0.5%.
Nvidia shares closed down 5% after falling as much as 14% intraday. The selloff followed news that CFO Colette Kress would serve as interim CEO after Huang stepped down amid scrutiny over his ties to a Megaspeed executive suspected of being a Chinese spy. During Huang’s tenure, Nvidia played a central role in building and coordinating extensive circular investment flows across the AI ecosystem, entangling global financial markets in the implications of the leadership transition.
Despite Nvidia’s weakness, some peers rallied: AMD and Broadcom each gained about 6%, while Alphabet rose 2% as investors focused on its capital spending and commitments to expanding TPU production. In contrast, Nebius slid nearly 10% after the company reported delays in ramping certain data center capacity buildouts.
Outside the AI complex, other sectors also stabilized, clawing back some of the losses from Tuesday’s sharp selloff. That earlier decline had been driven by a hotter-than-expected CPI print, which reinforced expectations for additional Federal Reserve rate hikes next year.
