AMD and Broadcom stocks surged on November 12 as investors reassessed the AI chip market following Nvidia CEO Jensen Huang's unexpected resignation. AMD gained 5.4% while Broadcom climbed 5.5%, compared to Nvidia's 4.34% decline to $166.19. Nvidia's board confirmed that longtime CFO Colette Kress would become interim CEO.

AMD reported strong financial momentum in its latest earnings release from November 3, with third-quarter data center revenue surging 97% to $8.55 billion, driven by EPYC server processors and Instinct MI450 GPUs. The company also projected fourth-quarter revenue of approximately $17 billion. Broadcom reported fiscal third-quarter revenue of $29.6 billion, up 86%, with semiconductor solutions contributing approximately $20.8 billion.

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