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Bloomberg Television9 min

Huang Ousted By Nvidia Board As CEO | Closing Bell

Huang, Romaine Bostick, Jess Menton, Carol Massar, Tim Stenovec

Earnings Call, Press Conference

Wall Street closed lower amid NVIDIA's 4.4% intraday decline triggered by leadership uncertainty surrounding CEO Jensen Huang, prompting investor rotation into rivals AMD and Broadcom. While the broader AI trade showed resilience and Anthropic's IPO drew massive institutional interest, Cisco Systems and Applied Materials posted positive earnings guidance that drove their shares higher despite mixed after-hour reactions. Energy prices climbed above $96 a barrel, and regulatory scrutiny continues as the market evaluates NVIDIA's long-term stability independent of its current founder.