EL7.AI
StocksMedium•9 November 2026•
1 min read

AMD and Broadcom Lead Chip Stock Rally as Nvidia Slumps on Board Probe

Key Facts

1AMD shares surged over 8% while Broadcom climbed 6.87% during Monday's trading session.
2Nvidia shares dropped 4.92% to $177.46 amid an independent board investigation into reports regarding its CEO.
3The Philadelphia Semiconductor Index rose 4.78% to reach 9,838.77 points.

AMD shares surged over 8% and Broadcom climbed 6.87% during trading on Monday, November 9, 2026, leading a broad recovery in the semiconductor sector. NDTV Profit reported that the Philadelphia Semiconductor Index rose 4.78% to reach 9,838.77 points, while Nvidia bucked the trend, dropping 4.92% to $177.46. The decline in Nvidia follows an independent board investigation into reports regarding its CEO, Jensen Huang.

The broader chip sector demonstrated technical resilience despite idiosyncratic pressure on Nvidia, with AVGO having closed at $293.69 and MU at $690 on November 6, 2026. On the same date, AMD closed at $449.04 while QCOM recorded a close of $165.41. These movements reflect diverging sentiment within the AI trade as investors weigh corporate governance concerns and leadership continuity against sector-wide demand.

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