AMD Beats Nvidia by 53.2 Points, Widest Gap Since 1999 IPO

AMD outperformed Nvidia by 53.2 percentage points over the five trading days through Thursday, November 12, 2026 — the widest five-day spread in AMD's favor since Nvidia went public in January 1999. AMD rose 44.7%, from $404.40 to $585.30, while Nvidia fell 8.5%, from $181.60 to $166.19. The calculation spans 6,997 trading days covering all 27 years of Nvidia's public life.

What broke the record?

The previous high stood at 50.1 points in the five days ending April 22, 2016, when AMD gained 47.8% and Nvidia slipped just 2.3%. This time Nvidia's decline was far steeper, so the chip giant's fall accounts for more of the gap than it did a decade ago.

The top five-day spreads in AMD's favor:

• Nov. 12, 2026: 53.2 points
• Apr. 22, 2016: 50.1 points
• Jun. 28, 2002: 45.1 points
• Oct. 8, 2025: 42.6 points

Measured Friday to Friday instead, AMD gained 18.93% from $449.04 while Nvidia lost 12.75% from $186.64 — a 31.7-point gap, still the widest since the five days ended October 10, 2025.

What powered AMD's run?

The stock jumped 11.04% on November 6 after third-quarter revenue hit a record $13.4 billion, up 45% year over year. Data center revenue rose about 97%, meaning the segment that competes head-on with Nvidia drove the quarter.

On November 11, AMD added another 7.32% to $552.90. Three catalysts stacked up that day: results from cloud operator CoreWeave, a spot on Goldman Sachs' preferred chip list, and a cloud deal with Alphabet's Google unit for fifth-generation EPYC processors. CEO Lisa Su said "demand is higher than supply" and guided fourth-quarter revenue to roughly $17 billion as Helios racks and Venice processors ramp.

Why did Nvidia slide?

On November 12, Nvidia announced that Jensen Huang had resigned as president, CEO and director, with CFO Colette Kress named interim CEO. The stock then logged its sixth consecutive weekly loss.

Earnings news usually gets absorbed within days; leadership uncertainty lasts until the board names a permanent replacement. Size matters too. AMD's $875.9 billion market value takes far less new money to move sharply than Nvidia's $3.93 trillion — the same inflow that nudges Nvidia can rocket its smaller rival. Nvidia still controls the CUDA software platform and reported $96.22 billion in revenue last quarter, so a credible permanent CEO pick could steady the shares.

How did Friday end?

The momentum cracked. AMD fell 8.75% to $534.06 on Friday, while Nvidia slipped 2.01% to $162.85. In after-hours trading, AMD changed hands at $521.24 and Nvidia at $161.04. A drop that steep after a 44.7% weekly run suggests plenty of late buyers were chasing momentum rather than fundamentals. AMD also remains about 19% below its 52-week high of $658.52.

Does the valuation hold up?

AMD has the stronger near-term growth case. Management expects 2027 revenue to grow more than 80%, with data center accounting for over 80% of sales.

But the stock swings hard in both directions, and a trailing price-to-earnings ratio of 202 leaves little room for a guidance miss. Nvidia's lower price could draw renewed interest once a permanent CEO is named. Until then, AMD owns the clearer growth story — and its reported numbers back it up.