AMD falls 9% in Friday session as chip stocks retreat and AI profit concerns mount

Key Facts

Shares of Advanced Micro Devices, known as AMD, fell 9% in Friday's session on November 13, 2026, according to an Associated Press report, sharply reversing the previous session's gains. The decline came amid a selloff in prominent semiconductor stocks, with Nvidia down 2% and Broadcom down 5.1% on the same day. The Nasdaq Composite fell 0.9% during the session, while the S&P 500 remained on track for a weekly gain of 2.4% for the week ended November 13. The moves reflect pressure on technology and chip stocks as investors focus on questions about returns from heavy spending on artificial intelligence. A comparison of the two sessions shows AMD's decline followed a 5.9% rise on Thursday, with trading in the stock changing direction quickly.

AMD had risen 5.9% in Thursday's session on November 12, alongside a 5.5% gain for Broadcom, according to the Associated Press. The report linked the companies' gains at the time to hopes that rival chipmakers could capture a larger share of the market if Nvidia customers sought to diversify their suppliers. Another report by the news agency said investors expected Nvidia customers to diversify their sources of supply, potentially restoring competition among several companies. But Thursday's gains did not last into the next session: AMD and Broadcom fell, while Nvidia also declined. This short-term move puts AMD's performance in the context of shifting expectations about competition in the AI chip market, where the earlier gains were tied to the possibility of demand shifting to rivals.

Pressure in Friday's session extended to more than one stock, with Nvidia down 2% and Broadcom down 5.1% alongside AMD's 9% loss, according to the Associated Press. The agency described Nvidia as once again among the biggest drags on the market during the session. Against the backdrop of developments at the company, the report said Jensen Huang stepped down as chief executive and Chief Financial Officer Colette Kress took over as interim chief executive. The leadership change puts Nvidia at the center of the debate over competition in the AI market, after Thursday's speculation had supported its rivals' shares. The report quoted a strategist at Edward Jones as saying Nvidia's decline "reminds investors of the inherent risks of market concentration," referring to the reliance of part of the market's returns on a limited number of major technology companies.

The broader market question, according to the Associated Press, remained whether AI profits would justify the costly investments and high valuations associated with them. The agency said that "the bigger worry has been whether AI will deliver enough profits to justify the costly investments and the huge market values of stocks." This concern provides context for the decline in chip stocks, as company valuations are tied to expectations for demand growth and returns on spending on AI infrastructure. Nvidia's decline, given its weight in the market, also again highlighted the concentration of returns in a small number of technology companies, according to the strategist quoted by the agency. By contrast, the S&P 500's weekly trajectory showed that Friday's losses had not, up to that point, erased the possibility of the index recording a gain of 2.4% for the week.

Among the economic data scheduled for the session day, the U.S. Bureau of Labor Statistics listed the release of the October Producer Price Index on November 13, 2026, at 08:30 a.m. Eastern time. The release date places the index against the backdrop of Friday's session, though the available facts do not include a reading or a specific effect on stock movements. The next event listed on the calendar is Kevin Warsh's opening remarks at the Federal Reserve Bank of San Francisco's Productivity and Jobs Conference, scheduled for November 16, 2026, at 12:00 p.m. This comes after a session that saw chip stocks retreat and debate renew over returns on AI investment and market concentration. Warsh's speech is the next scheduled event in the available facts, while the latest session's results and the divergence in index performance were the main features of Friday's trading.