AMD Shares Surge as Nvidia Investigates CEO's China Ties
AMD stock rose nearly 19% following a Google Cloud deal while Nvidia shares fell 12.75% amid an investigation into CEO Jensen Huang's ties to a suspected Chinese spy.
Shares of Advanced Micro Devices (AMD) surged 18.93% for the week ending November 13, 2026, closing at $534.06. The rally followed a major infrastructure deal with Google Cloud, which will use AMD's 5th Gen EPYC server processors for its new confidential computing systems. AMD reported third-quarter revenue of $13.377 billion, with data center sales nearly doubling to $8.5 billion as Microsoft, Meta, and OpenAI deployed Helios racks.
Conversely, Nvidia shares fell 12.75% during the same period. The decline follows reports that CEO Jensen Huang maintained a relationship with a suspected Chinese spy, prompting Nvidia to launch an independent investigation. U.S. Commerce Secretary Howard Lutnick is scheduled to testify before the Senate Banking Committee regarding the matter. Nvidia has stated there is no China data center compute revenue in its forward outlook.
Market momentum for AMD was further supported by CoreWeave, which increased its 2026 capital expenditure guidance to between $37 billion and $39 billion. While Nvidia continues to maintain higher gross margins and a lower earnings multiple than AMD, its recovery now depends on the outcome of the internal investigation, meeting its $108 billion third-quarter revenue guidance, and the ramp-up of its Vera Rubin product line.
