Nvidia Stock Sinks as Jensen Huang Ouster Report Sends Investors Toward AMD, Broadcom

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Broadcom Inc. (NASDAQ:AVGO) and Advanced Micro Devices Inc. (NASDAQ:AMD) shares each rose more than 3% in extended trading Wednesday as fresh turmoil surrounding Nvidia Corp. (NASDAQ:NVDA) CEO Jensen Huang sent investors toward rival chipmakers. Nvidia moved sharply in the other direction. Its shares fell 8.08% after hours to $159.68, according to Benzinga Pro. • Broadcom stock is moving in positive territory. Why is AVGO stock advancing? Board Reportedly Preparing to Act Nvidia's board is preparing to oust Huang after he had two extramarital affairs, including one with a suspected Chinese spy, according to a report from The Wall Street Journal citing people familiar with the matter. Directors could meet as soon as Wednesday to decide his future.