BEFORE THE OPEN · November 12, 2026
Nvidia leadership uncertainty weighs on AI stocks as Lilly gains — November 12, 2026
Nvidia falls 7.64% before the open as reports of a possible leadership change unsettle AI stocks. Lilly gains after China approves its weight-loss pill; AMD also rises.
| Stock | Premarket move | Price | Quote time · ET |
|---|---|---|---|
| Eli Lilly and Company (LLY) | +2.87% | $1479.00 | |
| Advanced Micro Devices, Inc. (AMD) | +2.75% | $568.10 | |
| Nebius Group N.V. (NBIS) | +2.45% | $158.48 | |
| Aflac Incorporated (AFL) | +2.27% | $130.00 | |
| News Corporation (NWS) | +1.74% | $30.45 | |
| NVIDIA Corporation (NVDA) | -7.64% | $160.45 | |
| CoreWeave, Inc. Class A Common Stock (CRWV) | -5.55% | $57.40 | |
| Super Micro Computer, Inc. (SMCI) | -5.03% | $28.90 | |
| Sandisk Corporation (SNDK) | -5.01% | $928.74 | |
| Coherent, Inc. (COHR) | -3.63% | $226.00 |
1) Leadership risk weighs on technology
November 12, 2026 · Before open. Moves are versus the previous regular close. Nvidia fell 7.64% as reports that its board was considering replacing CEO Jensen Huang unsettled investors. A leadership change had not been officially confirmed in the reporting reviewed. CoreWeave fell 5.55%, while QQQ and SPY declined 0.69% and 0.36%. The investment issue is continuity at a central supplier to the AI industry. Leadership uncertainty can affect what investors are willing to pay for future growth, even before it changes sales.
2) AMD gains as investors weigh alternatives
AMD rose 2.75%. William Blair upgraded it to Outperform, a positive analyst rating, and pointed to opportunities while Nvidia faces leadership uncertainty. Winning more customers could lift AMD’s revenue. That remains an opportunity rather than a confirmed transfer of Nvidia business; product performance, availability and customer adoption will determine the outcome.
3) Lilly gets a new market opening
Eli Lilly gained 2.87% after China approved orforglipron, its oral weight-loss medicine. Pills could attract patients who prefer not to use injections, expanding the potential customer base. Approval allows market entry, but sales will depend on pricing, access and competition. It does not guarantee a particular revenue increase.
4) Nebius and inflation are the next tests
Nebius rose 2.45%. The company scheduled third-quarter results for November 12 before the open and an earnings discussion that morning. Investors should watch sales growth, capacity additions and financing needs. Its reporting schedule is an upcoming decision point, not evidence of an earnings beat. The October Producer Price Index, which measures prices received by producers, is scheduled for November 13 before the open. Persistent inflation could keep borrowing expensive and pressure the value investors place on future profits.
5) Selected pre-market prices
Company · Price · Change LLY · $1,479.00 · +2.87% AMD · $568.10 · +2.75% NBIS · $158.48 · +2.45% AFL · $130.00 · +2.27% NWS · $30.45 · +1.74% NVDA · $160.45 · -7.64% CRWV · $57.40 · -5.55% SMCI · $28.90 · -5.03% SNDK · $928.74 · -5.01% COHR · $226.00 · -3.63%