Jensen Huang resigns as Nvidia CEO, US neocloud stocks plunge, Nasdaq -1.5%
US neocloud and crypto-mining–linked stocks sold off after reports that Jensen Huang resigned as Nvidia CEO. Nasdaq 100 futures fell 1.5 percent. Source: @TheKobeissiLetter.
Price moves
- Nebius, $NBIS: -21%
- CoreWeave, $CRWV: -14%
- Roundhill Neocloud ETF, $NEO: -13%
- IREN, $IREN: -9%
- Cipher Digital, $CIFR: -9%
- Applied Digital, $APLD: -8%
- TeraWulf, $WULF: -7%
- Core Scientific, $CORZ: -5%
Sector context
- Several names are Bitcoin miners expanding into high-performance computing and AI infrastructure: IREN, Cipher Digital, Applied Digital, TeraWulf, Core Scientific.
- A negative shift in GPU supply expectations and AI compute sentiment can pressure miners pursuing AI hosting revenue and increase risk premia across related equities.
Market impact
- Broad tech risk-off: Nasdaq 100 futures down 1.5 percent.
- Potential spillover to crypto through lower risk appetite and weaker equity funding conditions for miners and AI infrastructure plays.
Authors credited by the source: thekobeissiletter
Published by Holder based on an external source.
