Nasdaq 100 Futures Drop As Reports Relating To Jensen Huang’s Ousting Outweigh CoreWeave’s Strong Outlook — NVDA, TSLA, SNDK, CAPR, CRWV In Focus

Detailed summary

Nvidia’s board is preparing to meet as soon as today to determine Jensen Huang’s future as the chipmaker’s chief executive, WSJ reported.

U.S. stock indices ended higher on Wednesday, as an upbeat outlook from CoreWeave aided overall AI sentiment; however, stock futures dipped after-hours amid reports that Nvidia's board was meeting to discuss Jensen Huang's ousting as CEO.

Nvidia Corp.(NVDA) share price dropped 5% after-hours as the chipmaker's board reportedly prepares to remove Chief Executive Officer Jensen Huang following internal and federal scrutiny over extramarital affairs, including one with an executive reporting to him and another with an alleged Chinese intelligence asset.

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Nasdaq-100 futures lost 1%, while S&P 500 futures fell 0.4%. Dow Jones Industrial Average futures were little changed after-hours at the time of writing.

The S&P 500 ended Wednesday 1.3% higher, the Nasdaq 100 added 2.3%, and the Dow Jones Industrial Average rose 0.5%. The Russell 2000, which tracks small-cap stocks, ended 0.9% higher.

The SPDR S&P 500 ETF (SPY) rose 1.3%, and the SPDR Dow Jones Industrial Average ETF (DIA) gained 0.5%. Meanwhile, the Nasdaq-100 tracking Invesco QQQ Trust (QQQ) ended 2.3% higher on Wednesday.

Meanwhile, the VanEck Semiconductor ETF (SMH) and the iShares Semiconductor ETF jumped between 5% and 6% each on Wednesday after CoreWeave (CRWV) raised its 2026 revenue guidance to $13 billion to $13.3 billion and adjusted operating income guidance to $1.27 billion to $1.37 billion. The broader Vanguard Information Technology ETF (VGT) rose 3%.

However, most tech and AI related ETFs were trading lower after hours following the news of the possible ousting of Huang.

Traders are assessing whether the AI-led market surge will retain momentum amid ongoing softness in Nvidia Corp., though an upbeat quarterly report and boosted revenue guidance from CoreWeave Inc. bolstered long-term optimism heading into Thursday's trading.

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