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Nvidia CEO Jensen Huang Resigns; SOX Falls 3.43%, 10-Year Treasury Yield Hits 5.154%

Jensen Huang resigned as Nvidia CEO on November 12 after the board opened an investigation on November 8 into his ties to a suspected Chinese spy, with CFO Colette Kress named interim CEO. Nvidia fell 2.01% to $162.85 on Friday, capping a 12.75% weekly drop, its longest weekly losing streak since 2012. The Philadelphia Semiconductor Index fell 3.43% to 10,146.32 even as it gained 8.05% for the week, while the 10-year Treasury yield closed at 5.154% after October PPI rose 6.5% year over year.

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AI take

The leadership vacuum at Nvidia lands precisely when the chip complex is already fragile: the SOX's weekly gain despite Friday's slide shows how quickly sentiment can reverse, and a 5.154% 10-year yield tightens the discount rate on every high-multiple semiconductor name. The open question is whether the board investigation stays contained to governance or spills into customer and supplier confidence, since Nvidia's role as AI accelerator anchor means any disruption radiates across the sector. With an interim CFO at the helm, watch for disclosure cadence and whether the weekly losing streak extends.

Generated by AI for reference only.

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