Neoclouds Sink Again as Nvidia Turmoil Rattles AI Stocks: CoreWeave and Nebius Lead Friday's Slide

AI-related shares in the United States fell for a second straight day on Friday, November 13, with the cloud companies built around Nvidia's chips taking the heaviest losses as investors questioned the financing that has powered the AI boom.

The sell-off came a day after Jensen Huang, Nvidia's chief executive for 33 years, abruptly stepped down, and it extended a brutal week for the sector. The Nasdaq-100 fell about 1.2% by the close, the Nasdaq Composite lost 0.91% to 25,136.27 and the S&P 500 slipped 0.40% to 7,561.67, while the Dow Jones Industrial Average edged up 0.10% to 52,347.55.

At one point during the session the Nasdaq-100 had been down 2.2%, and the Philadelphia Semiconductor Index as much as 6.5%, before both recovered part of the losses. The semiconductor index closed 3.4% lower.

Neoclouds hit hardest

CoreWeave and Nebius Group, the so-called neoclouds that rent out computing power built on Nvidia hardware, were among the worst performers. CoreWeave fell 6.13% to $53.13, while Nebius dropped 9.92% to $115.88. Both had already fallen sharply on Thursday — CoreWeave by 6.86% and Nebius by 16.84% after it cut its revenue guidance despite reporting third-quarter revenue of $980.8 million, up 571% from a year earlier.

The worry hanging over the group is financing. Under Huang, Nvidia financed much of the infrastructure built around its own chips, a strategy that drove demand but also raised questions about circular funding flows between the chipmaker and its customers. With Huang gone, investors are asking whether that support continues.

"It's a short-term death blow to the industry because the amount of vendor financing and financing guarantees that Nvidia and Jensen Huang stepped into are now over," said Thomas Hayes, chairman of Great Hill Capital, in comments to Reuters.

Chipmakers give back Thursday's gains

Advanced Micro Devices fell 8.75% to $534.06, giving back Thursday's gain and more, when investors had rotated into Nvidia's rivals. Broadcom dropped 4.76% to $347.01 after Rothschild & Co Redburn cut the stock to neutral from buy.

Nvidia itself slipped 2.01% to $162.85, its second straight daily loss, after HSBC cut the stock to hold. The shares are down about 7% since Monday and roughly 30% from their October 6 high, and they have now fallen about 13% for the week — the largest weekly drop since April 2025 and a sixth consecutive weekly decline. The company's market value closed below $4 trillion for the first time since July 2025.

Other AI hardware names fell with them. Dell dropped 7.24% and memory maker SanDisk lost 5.59%. Meta Platforms was the exception among the big technology names, rising 2.9%.

Nscale widens its losses in IPO filing

Nscale, the British cloud provider backed by Nvidia, amended its filing for a planned stock market listing to say it expects to report a net loss of $1.7 billion for the nine months ended September 30, wider than the $433.3 million loss a year earlier. The disclosure added to the doubts about the economics of the AI infrastructure boom. Read our earlier report on the filing here: AI Cloud Firm Nscale Reports 1,344% Revenue Jump in IPO Filing as Losses Widen to $1.7 Billion.

Succession search turns to Arm's chief

A media report on Friday said Nvidia's board has approached Arm chief executive Rene Haas as a potential successor to Huang. Arm shares fell 4.8% on the day. CNBC reported after the close that the board is selecting a firm to run the chief executive search and has not formally engaged any candidates. Nvidia has said Colette Kress, its chief financial officer, will lead the company as interim chief executive. Read our report on the resignation here: Jensen Huang resigns as Nvidia CEO after 33 years; CFO Colette Kress named interim chief.

The wider market held up

For all the damage in AI names, the broader market finished the week higher. The S&P 500 gained 2.5% for the week, the Nasdaq 2.3% and the Dow 2.1%, as money rotated into defensive sectors such as healthcare and consumer staples. October producer-price data, released on Friday, came in softer than expected on a monthly basis, though the annual rate rose to its highest since November 2022, keeping doubts alive about how much the Federal Reserve will cut rates.

What comes next

Two events next week could set the tone for the AI trade: Nvidia reports quarterly earnings on Tuesday, and AI lab Anthropic is set for its long-awaited stock market debut. "You have no idea what to expect from Nvidia. That's the problem. This company is pure uncertainty right now," Steve Sosnick, chief market analyst at Interactive Brokers, told Reuters.

For Thursday's market reaction, see our earlier coverage: Nvidia Shares Plunge 4.3% to $166.19 as Investors Flee After CEO Resignation and Global AI Stocks Slide as Nvidia Crisis Deepens, From Tokyo to New York.

Sources

• Reuters, "Neoclouds, AI stocks slide again as Nvidia turmoil rattles sector", November 13, 2026 (via SRN News syndication)
• Finnhub market data, closing prices for CoreWeave, Nebius and AMD, November 13, 2026
• Associated Press closing data for the Dow, S&P 500 and Nasdaq Composite, November 13, 2026
• Longbridge market close summary, November 13, 2026