Business · Markets · 1 hr ago
Nvidia selloff weighs on Wall Street ahead of earnings
Nvidia shares fell 13% this week, extending a six-week run of declines and wiping $573 billion from the company’s market value.
The selloff, driven by uncertainty over Nvidia’s leadership and AI investment, helped push a major chipmaker index down 3.4% and the Nasdaq 100 down about 1.2% on Friday.
Nvidia has said it is still choosing a firm to search for a successor to Jensen Huang, while a published report said its board had contacted Arm CEO Rene Haas about the role.
Nvidia reports earnings on Nov.
17, and investors will look for signs that demand for its chips remains strong.
The leadership uncertainty matters because Huang has been the company’s only CEO in its more than three decades of history.
Inflation data also shaped expectations for the Federal Reserve, but the chip selloff outweighed relief over the data in the broader stock market.
Nvidia shares fell sharply as worries about the company’s future weighed on Wall Street ahead of its earnings report.
The stock dropped as much as 14.35% intraday on November 12 before closing down 4.34% at $166.19.
Investors were concerned about the departure of CEO Jensen Huang, possible changes in customer relationships and the outlook for artificial intelligence spending.
Investor Michael Burry warned that Nvidia’s growth and profit margins could weaken, while individual investors bought shares during the decline.
Nvidia said its CFO, Colette Kress, would serve as interim CEO while the board searched for a successor.
- Who
- Nvidia and investors in its shares.
- What
- Nvidia shares fell amid concerns about the company’s leadership and outlook, ahead of its earnings report.
- When
- The sharpest reported decline was on November 12, 2026; the company’s results were due on November 17.
- Where
- Wall Street and the New York stock market.
- Why
- Investors weighed Huang’s departure, potential effects on customer demand and financing, and uncertainty about AI investment.
Bearish investors
Dip buyers
Leadership and outlook
Bearish investors
Michael Burry warned Nvidia’s growth and profit margins could weaken after Huang’s departure.
Dip buyers
Some individual investors viewed the share-price fall as a buying opportunity, citing Nvidia’s technology and growth prospects.
Yonhap reported that Huang acknowledged an affair with a person suspected of being an agent of China’s intelligence services, and Nvidia said its independent board had begun an investigation.
Nvidia announced Huang’s departure and named CFO Colette Kress interim CEO.
Nvidia shares fell as low as $148.80 before closing at $166.19, down 4.34% from the previous close.
Nvidia was due to report its results.
- Nvidia closing share price
- $166.19 on November 12, 2026
- Intraday low
- $148.80 on November 12, 2026
- Interim CEO
- Colette Kress, Nvidia CFO
- Individual investor purchases
- $111 million of Nvidia shares in the first 30 minutes of trading, according to Vanda Research figures cited by the Wall Street Journal
- Earnings report
- Due November 17, 2026
7 sources
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What people are saying
Get out
Nvidia’s business itself will not disappear, but its growth rate could slow and its profit margins could decline
The real next test will come when Nvidia reports results on November 17, and what we should watch is not the identity of the person who will stand on stage, but whether the order book has changed