AMD, Broadcom climb as Nvidia turmoil creates opportunity

By Reuters News6 hours ago Updated

** Shares Advanced Micro Devices AMD.O and Broadcom AVGO.O rise about 3.5% and 1.8%, respectively, in premarket trading

** The chipmakers buck a broader selloff in AI-related names after weakness in Nvidia NVDA.O weighs on sentiment

** NVDA falls 6.9% after reports board met on Wednesday to decide whether to oust CEO Jensen Huang following news of extramarital affairs involving its longtime leader

** "A leadership vacuum could give competitors such as AMD and Broadcom more room to maneuver," says Susannah Streeter, chief investment strategist at Wealth Club

** AMD and Broadcom could benefit from growing expectations that they may move more rapidly to win customers if uncertainty at Nvidia persists, Streeter added

** As of last close, AMD shares more than doubled YTD, while Broadcom fell 0.25%, compared with a 49.1% gain in the Philadelphia Semiconductor Index .SOX

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.