Nvidia's Founder Steps Down, and the AI Plumbers Deliver

From TH's Market Lens Daily · 00:03:19

Show by thomas huo

This show is AI-generated. Alex and Jordan are synthetic voices, and the script is AI-generated from researched news.Nvidia founder Jensen Huang resigned on Thursday, 12 November, as president, CEO and board member, effective immediately after 33 years; CFO Colette Kress is interim CEO and Harvey C. Jones is the first board chair. Nvidia fell 4.3% to $166.19, near its 52-week low, while AMD and Broadcom rose. Earnings are still due Tuesday, 17 November.Markets held up: the S&P 500 slipped 0.35% to 7,592.40, the Nasdaq fell 0.39% to 25,366.09 and the Dow lost 0.36% to 52,297.09; the 10-year Treasury yield rose to 5.10%.Cisco reported record revenue of $18.5bn, up 24%, its fastest growth in over 15 years, with adjusted EPS of $1.40 against $1.33 expected; it raised its full-year revenue forecast to $74.8–$75.8bn and its AI infrastructure revenue target from hyperscalers to $9bn.Applied Materials reported record revenue of $10.41bn, up 53%, and adjusted EPS of $4.16 against $4.06 expected, but shares slipped after hours after missing the $4.20 whisper; it guided next-quarter revenue to about $11.1bn and sees wafer fab equipment demand growing over 30% in 2027.Cerebras reported record revenue of $210.8m, up 55%, with cloud revenue up 265%, and raised its full-year revenue outlook to $940–$960m; shares jumped by double digits after hours despite a wider-than-expected loss of $0.67 a share.October producer prices are due Friday, 13 November, at 8:30am Eastern, expected up 0.4% on the month and 6.6% on the year; markets price about a 90% chance of a quarter-point December Fed rate rise.

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