NCLD News & Analysis

Nvidia (NVDA) CEO Resigns; AI ETFs Show Mixed Gains Amid Market Turmoil

Nvidia's (NVDA) founding CEO, Jensen Huang, resigned amid ongoing market turmoil affecting AI-related tech stocks. The transition places interim CEO and CFO Colette Kress in charge as Nvidia prepares to report its third-quarter earnings on Tuesday. Experts on CNBC's "ETF Edge" said that despite Nvidia's difficulties, other major technology stocks connected to artificial intelligence may benefit. Dave Mazza, CEO of Roundhill Investments, noted that demand for AI chips might shift to other players if trust in Nvidia declines. Two ETFs managed by Roundhill showed modest gains last week: the Magnificent Seven ETF (MAGS) gained less than 1%, and the Neocloud ETF (NCLD) rose over 1% despite a 39% loss since its August 2026 launch. Mixed earnings from CoreWeave, which had its best day since April 2025, and Nebius, which saw its shares decline after reporting, contributed to the Neocloud ETF's performance. Nvidia also faced its longest losing streak since 2012 following weekly losses. Analysts expect Nvidia's Q3 earnings to be key in shaping market confidence, while companies like AMD and Alphabet could see gains if Nvidia's challenges continue. This matters for investors because Nvidia's leadership change and earnings report will directly affect the price and supply dynamics of AI chips. The performance of ETFs like MAGS and NCLD reflects broader shifts in investor confidence within the AI sector, influencing decision-making around AI industry investments.