Nvidia Shares Decline Amid CEO Investigation While AMD Rises Following Analyst Upgrade
The stock market opened with mixed results as semiconductor leaders saw divergent paths. Nvidia (NVDA) shares fell nearly 5% in premarket trading following reports that the company has launched an investigation into CEO Jensen Huang's relationship with a businesswoman, Alice Huang, who is alleged by U.S. intelligence agencies to be a Chinese spy affiliated with customer Megaspeed. In contrast, AMD (AMD) shares rose 3.2% after Oppenheimer upgraded the chipmaker to 'outperform' with a $600 price target, citing strong third-quarter results and raised revenue estimates. Meanwhile, DraftKings (DKNG) saw its stock slip 1.7% following a downgrade from UBS to 'neutral,' driven by concerns over regulatory uncertainty in prediction markets and lowered revenue guidance.
Tickers: $AMD $DKNG $NVDA $UBS
Topics: Analyst Downgrade Analyst Upgrade CEO Investigation Geopolitical Risk Stock Market Moves
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