Nebius shares fell 19% and CoreWeave lost 12% on Thursday after Jensen Huang resigned as Nvidia CEO. Cardano founder Charles Hoskinson says one stock stands to gain.
Both firms rent out AI computing power built on Nvidia chips, a group investors call neoclouds. Their shareholders now depend on a supplier run by an interim chief.
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Hoskinson Says Nvidia Picked a CFO Over an Engineer
Nvidia announced that Chief Financial Officer Colette Kress will serve as interim CEO. She joined the company in 2013.
Charles Hoskinson, founder of the Cardano blockchain and CEO of Input Output, made his call in a post.
“Nvidia just replaced a visionary engineer founder with a CFO. Buy AMD stock,” Hoskinson stated.
Kress keeps the CFO job for now. The board says it will weigh internal and external candidates for the permanent role.
AMD was already moving before Huang left Nvidia. BeInCrypto reported the stock had climbed 40% from its November 5 low, putting AMDs $600 target in view.
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AMD rose about 3% and Broadcom gained as much as 6% Thursday morning.
AMD Stock Performance. Source: Yahoo FinanceNot All of Nebiuss Drop Came From Nvidia
Nebius released quarterly results the same day. It said 2026 revenue will land at the low end of its $3 billion to $3.4 billion forecast.
The company blamed third-party capacity slipping into early 2027, according to its shareholder letter. It also raised planned 2026 spending to about $27 billion, up from $20 billion to $25 billion.
Across the group, the Roundhill Neocloud ETF fell more than 12% before the opening bell. IREN dropped about 8%.
The neoclouds are really going to miss Jensen running $NVDA:
• $NBIS -21%
• $CRWV -12%
• $IREN -11%
• $WYFI -9%
• $GLXY -8%
• $CIFR -6%
— Shay Boloor (@StockSavvyShay) November 12, 2026
These companies were already facing rising AI debt costs as Treasury yields topped 5%. Nvidia reports quarterly results on November 17, its first under Kress.