US stock market today: Nasdaq futures fall as Nvidia slides 9% on Jensen Huang reports

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US stock futures were mixed as Nvidia shares dropped nearly 9% following reports regarding CEO Jensen Huang, weighing on the broader semiconductor sector.

US stock futures were mixed in premarket trading on Thursday (November 12) as Nvidia shares came under renewed selling pressure following reports surrounding CEO Jensen Huang's position at the company.

Futures tied to the tech-heavy Nasdaq-100 declined 0.7%, while S&P 500 futures slipped 0.4%. Dow Jones Industrial Average futures were marginally higher, adding 35 points and trading around the flatline.

Nvidia shares fell nearly 9% in premarket trading after reports by The New York Times and The Wall Street Journal raised questions about Huang's position at the chipmaker. The New York Times reported that Huang had an extramarital relationship with an executive at the company, while The Wall Street Journal reported that Nvidia's board was preparing to remove him as CEO.

The latest reports added to concerns surrounding Huang's leadership, with investors assessing the potential implications of his departure for the world's leading AI chipmaker.

The weakness in Nvidia also weighed on sentiment across the broader semiconductor sector. However, trading was mixed among chipmakers, with Intel and Micron shares declining, while Nvidia rival Advanced Micro Devices (AMD) gained around 3% ahead of the opening bell. Broadcom shares were also indicated to open nearly 2.5% higher.

Meanwhile, investors continued to assess whether the artificial intelligence-led rally in US equities has further room to run, particularly amid recent weakness in Nvidia shares.

Elsewhere in the semiconductor space, CoreWeave's better-than-expected quarterly results and an improved revenue outlook had reinforced expectations of sustained demand for AI infrastructure. Its shares surged 25% on Wednesday but fell around 7.2% in premarket trading on Thursday.

In commodities, oil prices remained under pressure, with Brent crude futures hovering below $93 per barrel.

Also Read: Chinese AI firms rush to secure Nvidia chip capacity as spy scandal stirs fear of US curbs, says report

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