Business · Markets · 59 mins ago
Nvidia shares fall sharply as Jensen Huang steps down as CEO
Nvidia shares have dropped sharply, losing more than 30% from a record and about US$1.144 trillion in market value since October 29.
Co-founder Jensen Huang resigned as CEO after 33 years leading the chipmaker, amid a scandal over reports about his personal relationships.
CFO Colette Kress is interim CEO while the board searches for a permanent successor, considering candidates from inside and outside the company.
Nvidia makes graphics chips widely used in artificial intelligence data centers, and investors are also worried that spending on those facilities could slow.
Analysts still expect strong growth, with average forecasts calling for October-quarter revenue to rise 92% year over year and net profit to increase 89%.
Nvidia reports results on Tuesday, and investors will watch both the figures and what Kress says about the company’s outlook.
Nvidia shares fell sharply after CEO Jensen Huang resigned on Thursday.
The company appointed Chief Financial Officer Colette Kress as interim CEO while it seeks a permanent successor.
Nvidia shares ended down 4.3% at $166.19 after falling as much as 14.3% during the day.
The company had lost almost $500 billion in value since the close of U.S. trading the previous week.
Investors are weighing the leadership change alongside concerns about AI investment and demand for data centers.
- Who
- Nvidia CEO Jensen Huang resigned, and CFO Colette Kress was named interim CEO.
- What
- Nvidia shares fell sharply following Huang’s departure.
- When
- Thursday, November 12, 2026.
- Where
- Nvidia shares traded in the United States. The company is based in the United States.
- Why
- The fall followed Huang’s resignation amid reports of extramarital affairs, including one involving a woman alleged to be a Chinese asset. Investors also had concerns about AI investment and data-center demand.
Investors concerned about Huang’s departure
Investors who see Nvidia’s demand as resilient
Leadership risk
Investors concerned about Huang’s departure
Huang’s abrupt exit could weigh on Nvidia shares while investors assess the leadership search and reports surrounding his departure.
Investors who see Nvidia’s demand as resilient
Nvidia’s products and customer demand may remain strong without Huang; one analyst said customers buy its computing power, software and networking ecosystem.
AI outlook
Investors concerned about Huang’s departure
The leadership change adds uncertainty to an industry already facing questions about whether AI investment can prove profitable.
Investors who see Nvidia’s demand as resilient
Nvidia’s chip demand was expected to continue outpacing supply, and one investor said the company’s departure was a key-person event, not a demand event.
Reports disclosed that Huang had an extramarital affair with a woman U.S. intelligence agencies believe was a Chinese asset.
Nvidia shares lost 9.6% of their value in trading.
Nvidia announced Huang’s resignation and named CFO Colette Kress interim CEO.
Nvidia shares fell as much as 14.3% before ending down 4.3% at $166.19.
- Interim CEO
- Colette Kress
- Shares at Thursday close
- $166.19, down $7.54 or 4.3%
- Intraday share fall
- As much as 14.3%
- Value lost since previous week’s U.S. trading close
- Almost $500 billion
- Nvidia co-founded
- 1993
7 sources
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What people are saying
the board did what we said it needed to do, which is rip off the band-aid and take Nvidia into its next chapter without him after this dark moment for Jensen and Nvidia
There is no credible way to put a precise revenue loss on his departure
This is a key-person event, not a demand event. Nobody is canceling GPU orders because the CEO resigned.
NVIDIA’s leadership crisis is a stress test for the AI boom