News report 🏭 Commodities 🌍 GLOBAL

Copper Hits 4-Month Low at $13,456 as Nvidia Leadership Crisis Weighs

Copper prices face a fifth consecutive weekly loss as markets react to Nvidia's leadership shakeup and potential delays in AI infrastructure financing, despite strong physical demand indicators in China.

📅 November 14, 2026 🕐 1 min read

2 assets impacted (Stocks, Commodities). Net bias: 0 Bullish, 2 Bearish, 0 Neutral. Strongest signal: NVDA ↓ 7/10 (80% confidence).

📊 Affected Assets (2)

NVDA

Bearish 🤖 80%

📅 Short-term 🌍 US · Explicit

Jensen Huang resigned Thursday as president, CEO and director effective immediately, a sudden leadership shock at the company driving AI spending. Shares closed 4.3% lower Thursday and fell about 2% more on Friday. Results are due Nov. 17 with interim CEO Colette Kress, and Huang must testify before Congress by Thanksgiving, adding uncertainty into next week.

Catalysts

▼ Jensen Huang resigned as president, CEO and director effective Thursday
▼ Shares fell 4.3% Thursday and about 2% more Friday

Risk Factors

▲ UBS and JPMorgan only warn of a possible pullback from financing deals, nothing confirmed
▲ Interim CEO Colette Kress announced an all-hands meeting the day after results

Copper

Bearish 🤖 60%

📅 Short-term 🌍 GLOBAL · Explicit

Three-month copper fell 0.5% to $13,519 a ton, touching $13,456, its weakest since July 17, and is headed for a fifth straight weekly loss. UBS and JPMorgan warn Nvidia may pull back from financing AI data centers, which would push out construction and its copper demand. However, Chinese buyers paid a record $285-a-ton Yangshan premium and Shanghai warehouse stocks fell 18.3% on the week, so underlying demand does not look weak.

Catalysts

▼ Nvidia may pull back from AI data center financing deals per UBS and JPMorgan warnings
▼ Copper down every week since mid-October, weakest since July 17 at $13,456

Risk Factors

▲ Record $285-a-ton Yangshan premium paid by Chinese buyers on Friday
▲ Shanghai warehouse stocks fell 18.3% on the week

🧭 Full analysis of these assets

🎯 Key Takeaways

Three-month copper dropped to $13,456, the lowest price recorded since July 17.
Nvidia shares fell 4.3% on Thursday and an additional 2% on Friday following the immediate resignation of CEO Jensen Huang.
Chinese copper demand remains robust, with a record $285-a-ton Yangshan premium and an 18.3% weekly decline in Shanghai warehouse stocks.
Analysts at UBS and JPMorgan warn that Nvidia's leadership transition could delay or increase the cost of financing deals for AI data centers.

📝 Executive Summary

Three-month copper fell 0.5% to $13,519 a ton on Friday, touching its lowest level since July 17. The decline follows the sudden resignation of Nvidia CEO Jensen Huang, fueling investor concerns that the company may pull back from financing AI data center projects that drive copper demand.

❓ FAQ

NVDA · Who is running Nvidia now?

Chief Financial Officer Colette Kress is interim CEO while keeping her finance job, and Harvey Jones has become the board's first chair.

NVDA · When does Nvidia report results?

Bloomberg reported results are due Nov. 17, the first under interim CEO Colette Kress.

Copper · Why is copper falling if Chinese demand is strong?

Traders blame the shock around Nvidia losing its CEO and worries AI data center financing could slow, even though Chinese buyers paid a record $285-a-ton premium and Shanghai warehouse stocks dropped 18.3% this week.

Copper · Does Nvidia's CEO exit directly reduce copper demand?

Not yet. Analysts at UBS and JPMorgan only warn Nvidia might pull back from financing deals that fund AI data centers, which would delay construction and the copper that goes with it.

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