US stocks ended slightly lower Thursday as the resignation of Nvidia CEO Jensen Huang shook confidence in the artificial intelligence trade.

The Dow Jones Industrial Average fell 189.4 points, or 0.36 percent, to 52,297.09. The S&P 500 lost 26.98 points, or 0.35 percent, to 7,592.4. The Nasdaq Composite Index dropped 100.1 points, or 0.39 percent, to 25,366.09.

Nvidia announced that Huang had resigned as president, CEO and board member, effective immediately, and named chief financial officer Colette Kress as interim CEO. Nvidia fell 4.34 percent to $166.19, after plunging as much as 14 percent at the open. Nvidia is due to report quarterly results next Tuesday.

Not every chip stock followed Nvidia lower. Advanced Micro Devices rose 5.86 percent and Broadcom gained 5.54 percent, respectively, as investors looked for beneficiaries of the leadership turmoil at the AI industry's biggest supplier.

"Nvidia's fate as one company is one thing, but this AI revolution is way bigger than that," said Jed Ellerbroek, portfolio manager at Argent Capital Management. "If Nvidia falls from grace and their chips are no longer the best, and AMDs are better or Google's are better, then people will switch over and buy them. The demand for the chips is not going down."

Traders continued to price in a Federal Reserve rate hike in December, with markets putting the chance of a quarter-point move at about 91 percent.

The yield on the 10-year Treasury note rose to 5.1 percent, after closing at 4.98 percent late Tuesday prior to the Veterans Day bond market holiday. Oil prices jumped as US President Trump's post on social media dampened prospects on a deal with Iran any time soon. West Texas Intermediate settled at 88.74 dollars a barrel, up 2.55 percent, while Brent crude settled at 95.82 dollars a barrel, up 3.3 percent.

AI cloud company Nebius fell 16.84 percent after its quarterly report, despite revenue rising sharply from a year earlier.