Nvidia Extends Slide as AMD Gives Back Gains | US Today.zip Nov 13

November 13, 2026

Nvidia shares fell another 2.01% to $162.85 on Friday, November 13, the day after Jensen Huang resigned as chief executive, and the selling spread to the rivals that had rallied on his exit. Advanced Micro Devices dropped 8.75% and Broadcom lost 4.76%, the Nasdaq Composite slipped 0.91%, and October producer prices showed the largest 12-month increase since November 2022.

Cover card listing five stories: Nasdaq down 0.9% on a tech slump, Nvidia down six weeks in a row, AMD and Broadcom slide a day after gains, producer prices up 6.5% in a year, and Anthropic listing on Nasdaq next week

Key numbers from the session:

- S&P 500: 7,561.67, down 0.40%

- Nasdaq Composite: 25,136.27, down 0.91%

- Dow Jones Industrial Average: 52,347.55, up 0.10%

- Nvidia: $162.85, down 2.01%

- AMD: $534.06, down 8.75%; Broadcom: $347.01, down 4.76%

- PHLX Semiconductor Index: 10,146.32, down 3.43%

- October Producer Price Index: up 0.3% on the month, up 6.5% on the year

Nasdaq falls nearly 1%, but the week still ends higher

S&P 500 at 7,561.67, down 0.40%, Nasdaq at 25,136.27, down 0.91%, and the Dow at 52,347.55, up 0.10%, with tech the weakest S&P 500 sector

The three major indexes split on Friday. The S&P 500 lost 0.40% and the Nasdaq Composite, which is heavier in technology companies, fell 0.91%. The Dow Jones Industrial Average, which tracks 30 large companies and weights them by share price, edged up 0.10%.

Technology was the worst performer of the 11 S&P 500 sectors, according to market reports, as uncertainty about Nvidia's leadership weighed on chip and AI-related shares. Microsoft finished higher after an outage of its Outlook and Teams services began to ease.

The weekly picture looks different from the daily one. Both the S&P 500 and the Nasdaq still finished the week with gains, ending a streak of four straight weekly declines, even after Friday's losses.

Nvidia's losing streak becomes the longest since 2012

Nvidia closed at $162.85, down 2.01%, a sixth straight weekly decline and the longest such streak since October 2012, while its board reportedly approached Arm CEO Rene Haas

Nvidia, which makes the graphics processors used to train and run AI models, closed at $162.85, down $3.34 from Thursday's close of $166.19. Market reports said the stock has now fallen for six weeks in a row, its longest weekly losing streak since October 2012.

Huang resigned on Thursday as chief executive and board member, and Nvidia named Chief Financial Officer Colette Kress as interim CEO while it searches for a permanent successor. On Friday, a media report said Nvidia's board had approached Rene Haas, chief executive of British chip designer Arm Holdings, about the role. Nvidia has not announced a successor, so that remains a media report rather than a company decision.

The next scheduled checkpoint is the company's own. Nvidia will host its third-quarter earnings call on Tuesday, November 17, at 5 p.m. Eastern time, which is 7 a.m. on November 18 in Korea.

AMD and Broadcom give back their post-Huang rally

AMD at $534.06, down 8.75%, and Broadcom at $347.01, down 4.76%, after rising 5.9% and 5.5% the day Huang resigned, with the PHLX Semiconductor Index down 3.43%

On Thursday, the day Huang stepped down, AMD rose about 5.9% and Broadcom about 5.5%, as some investors bet that Nvidia's rivals could gain ground. Friday reversed that move. AMD fell 8.75% to $534.06 and Broadcom fell 4.76% to $347.01.

A simple calculation shows how far AMD moved over the two days. Multiplying a 5.9% gain by an 8.75% loss (1.059 x 0.9125) gives about 0.966, which leaves the stock roughly 3.4% below where it closed on November 11, before the resignation was announced. The rally on Thursday did not hold for even one full session.

The broader chip group fell as well. The PHLX Semiconductor Index, which tracks 30 large chip companies, dropped 3.43% to 10,146.32. CoreWeave and Nebius, cloud providers that rent out AI computing capacity and count Nvidia among their backers, also ended lower. Taken together, the moves suggest investors were treating Nvidia's turmoil as a question about AI spending as a whole rather than a simple shift of business from one chipmaker to another. That is our reading of the price action, not a company statement.

Producer prices rise 6.5% in a year

October PPI rose 0.3% from September, below the 0.4% forecast, and 6.5% from a year earlier, the largest gain since November 2022

The Bureau of Labor Statistics said the Producer Price Index for final demand rose 0.3% in October on a seasonally adjusted basis, after a 1.4% jump in September. Economists had expected 0.4%, according to market reports. Over the 12 months through October, the index rose 6.5%, the largest annual increase since November 2022.

The Producer Price Index measures the prices that businesses receive for the goods and services they sell, so it tracks cost pressure earlier in the supply chain than consumer prices do. In October, prices for goods rose 0.5% and prices for services rose 0.2%. A narrower measure that excludes food, energy and trade services rose 0.5% for the month and 4.9% over the year.

The softer monthly figure did not change rate expectations. According to the CME FedWatch tool, markets continued to fully price in a Federal Reserve rate increase of at least a quarter of a percentage point at the December meeting, with about a 10% chance of a half-point move. A monthly reading below forecasts carried less weight than an annual rate that is still the highest in about four years.

Anthropic prepares for its Nasdaq debut

Anthropic offering 825 million shares at $70 to $78 each, a deal of about $57.8 billion to $64.4 billion under the ticker ANT, with pricing expected Nov 18 and trading Nov 19

Anthropic, the developer of the Claude AI models, launched the roadshow for its initial public offering on November 10. The company is offering 825 million Class A shares at an expected price of $70 to $78 each and has applied to list on the Nasdaq Global Select Market under the symbol ANT. Of those shares, 801.4 million are being sold by Anthropic and 23.6 million by existing shareholders.

Multiplying 825 million shares by the price range gives an offering of about $57.8 billion at the low end and $64.4 billion at the top, before any additional shares the underwriters may buy. The company is expected to set the final price on November 18 and begin trading on November 19, according to reports. Market reports said the listing, arriving in the same week as Nvidia's results, could test investor demand for AI stocks.

What to watch next week

Next week in Korea time: Empire State Manufacturing Nov 16, October retail sales Nov 17, Nvidia earnings call Nov 18, FOMC minutes Nov 19, Anthropic first trade expected Nov 19, Philadelphia Fed Manufacturing Nov 19 and UMich sentiment Nov 21

In Eastern time, the New York Fed's Empire State manufacturing survey comes out on Monday, followed by October retail sales on Tuesday morning and Nvidia's earnings call that afternoon. Minutes from the Federal Reserve's latest policy meeting are due on Wednesday afternoon, Anthropic is expected to begin trading on Thursday, and the University of Michigan's November consumer sentiment survey arrives on Friday.

Key terms

- Producer Price Index (PPI): a measure of the prices businesses receive for their goods and services.

- Roadshow: the period before an IPO when a company presents its offering to investors.

- PHLX Semiconductor Index: a benchmark that tracks 30 large US-listed chip companies.

Bottom line

Nvidia's sixth straight weekly decline and AMD's 8.75% reversal showed that the chip selloff did not stay with one company. Nvidia's earnings call on November 17 and Anthropic's expected debut on November 19 are the two dates that will test the AI trade next.

Sources: Bureau of Labor Statistics Producer Price Index release for October 2026, Anthropic roadshow launch announcement, NVIDIA third-quarter conference call announcement