Cardano's Hoskinson Picks AMD After Nvidia CEO Departure

Nebius shares dropped 19% and CoreWeave declined 12% on Thursday after Jensen Huang resigned as Nvidia CEO. Cardano founder Charles Hoskinson says a different stock could benefit.

Both Nebius and CoreWeave rent out AI computing power that relies on Nvidia chips, a group market participants call neoclouds. Their shareholders now depend on a supplier that has an interim leader.

Hoskinson Says Nvidia Picked a CFO Over an Engineer

Nvidia announced that Chief Financial Officer Colette Kress will act as interim CEO. She has been with the company since 2013.

Charles Hoskinson, who founded the Cardano blockchain and serves as Input Output's CEO, shared his view in a post.

“Nvidia just replaced a visionary engineer founder with a CFO. Buy AMD stock,” Hoskinson stated.

Kress also holds on to the CFO role for the time being. The board plans to consider both internal and external candidates for the permanent position.

AMD was already gaining ground before Huang left Nvidia. BeInCrypto reported the stock had risen 40% from its November 5 low, bringing AMD's $600 target into sight.

AMD rose about 3% and Broadcom gained as much as 6% on Thursday morning.

Not All of Nebius’s Drop Came From Nvidia

Nebius released quarterly results the same day. The company said 2026 revenue will be at the low end of its $3 billion to $3.4 billion forecast.

The company attributed the shortfall to third-party capacity shifting into early 2027, according to its shareholder letter. It also raised planned 2026 spending to about $27 billion, up from $20 billion to $25 billion.

Across the group, the Roundhill Neocloud ETF fell more than 12% before the opening bell. IREN dropped about 8%.

The neoclouds are really going to miss Jensen running $NVDA:

• $NBIS -21%
• $CRWV -12%
• $IREN -11%
• $WYFI -9%
• $GLXY -8%
• $CIFR -6%

— Shay Boloor (@StockSavvyShay) November 12, 2026

These companies were already facing rising AI debt costs as Treasury yields topped 5%. Nvidia reports quarterly results on November 17, its first under Kress.