Cardano Founder Urges Buying AMD After Nvidia CEO Resignation

On November 12, 2026, Cardano founder Charles Hoskinson urged buying AMD shares following Jensen Huang's resignation as CEO of Nvidia. On the same day, shares of companies providing computing power for AI noticeably declined. However, the stock movement was not solely related to the leadership change at the chip manufacturer.

Why Hoskinson Highlighted AMD

“Nvidia just replaced its visionary engineer-founder with a CFO. Buy AMD shares,” Hoskinson wrote on X. This is the entrepreneur's personal assessment, not a confirmed earnings forecast.

Nvidia was temporarily led by CFO Colette Kress, who has been with the company since 2013. She retained her CFO duties while the board of directors began searching for a permanent leader. By the end of trading on November 12, AMD shares rose 5.86% to $585.30, while Nvidia lost 4.34%.

How AI Power Providers Reacted

Shares of Nebius (NBIS) fell 16.84% to $128.64 on November 12, and CoreWeave (CRWV) dropped 6.86% to $56.60. Both companies provide cloud infrastructure for AI, including using Nvidia accelerators. The Roundhill Neocloud ETF ended the session down 8.81%.

At the start of trading, the decline in individual stocks was more pronounced. Therefore, reports of Nebius dropping 19% and CoreWeave 12% should not be taken as the final session results.

What Nebius' Report Showed

Nebius reported revenue for the III quarter of $980.8 million, up 571% from the previous year. However, the company now expects annual revenue at the lower end of the previously indicated range of $3–3.4 billion: the introduction of some third-party computing power is postponed to the first half of 2027.

The capital expenditure forecast for 2026 has been raised from $20–25 billion to approximately $27 billion. These changes became an independent source of pressure on Nebius shares. Nvidia plans to release its quarterly report on November 17.