Nvidia’s (NVDA) leadership crisis is giving investors a reason to look beyond the AI chips darling.
The company’s share price came under pressure this week as Jensen Huang resigned, and the board named CFO Colette Kress as the interim chief executive of NVDA.
The upheaval could encourage customers to diversify their suppliers, creating major opportunities for competitors.
Three stocks stand out: Advanced Micro Devices, Broadcom and Alphabet. Each offers a different route into the AI spending boom – and a potential way to capitalize on the recent Nvidia fallout.
Advanced Micro Devices (AMD)
AMD has the clearest opening if Nvidia’s customers accelerate efforts to find another supplier of AI chips.
Bloomberg Intelligence’s senior expert Mandeep Singh expects NVDA to be more cautious under its new chief, creating room for rivals to capture market share.
For AMD stock, the opportunity is to turn customers’ concerns about supplier concentration into a stronger position in future purchasing decisions.
It closed higher on Thursday – reflecting investor enthusiasm for that possibility.
That said, interest must translate into orders before the financial benefits become clear.
Switching AI workloads takes time and money, making upcoming contracts and deployments more meaningful evidence of progress than the stock’s immediate reaction to Huang’s departure.
Wall Street currently has a consensus Buy rating on AMD shares.
Broadcom (AVGO)
Broadcom could benefit as Nvidia’s turmoil strengthens the argument for custom AI chips.
Its pivotal role in developing specialized processors and networking equipment gives it exposure to customers seeking greater control over their computing infrastructure.
AVGO shares are another potential beneficiary if Nvidia’s leadership fiasco disrupts customer relationships. That was substantiated by a notable rally in Broadcom on Nov. 12.
Note that the company has already been seeing massive demand for custom AI chips, helping fiscal Q3 soar 86% on a year-over-year basis to $29.6 billion.
A 0.74% dividend yield makes Broadcom even more attractive for long-term investors.
Wall Street currently rates AVGO at Buy.
Alphabet (GOOGL)
Alphabet also offers an alternative through its Tensor Processing Units (TPUs) – giving AI clients another option as they reconsider their dependence on Nvidia.
Broader TPU adoption could strengthen Google Cloud by attracting businesses seeking different infrastructure for training and running AI models.
Bloomberg Intelligence expects TPU sales to exceed $50 billion next year, highlighting the potential scale of that opportunity.
Google shares closed nearly 2% higher on Thursday.
Its challenge is converting renewed customer interest into sustained usage: TPUs cannot replace GPUs across every application, and migration can be costly.
Even so, Nvidia’s leadership uncertainty could give Google another reason to enter purchasing discussions, potentially accelerating adoption of an alternative it was already expanding.
Wall Street currently has a consensus Buy rating on GOOGL shares.
AI disclosure: AI tools assisted with research and drafting of this piece. An Invezz editor reviewed the facts, sources and wording before publication. Any opinions or analysis are Invezz’s, not those of an automated system.
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