Markets whiplashed as Jensen Huang quits Nvidia
The board named Chief Financial Officer Colette Kress interim chief executive as Nvidia investors braced for more fallout and a permanent successor search began.
- On Thursday, November 12, 2026, Jensen Huang resigned as Nvidia CEO following board pressure over personal scandals. Chief Financial Officer Colette Kress will serve as Interim Chief Executive Officer while the board searches for a permanent replacement.
- Revelations of two extra-marital affairs triggered the board revolt. Huang admitted to an affair with Alice Huang, an alleged Chinese spy, and The New York Times reported a second affair with Kimberly Powell, Nvidia vice president of health care.
- Nvidia stock fell more than 4% on Thursday, with market capitalization declining from more than $5 trillion to less than $4 trillion. The Nasdaq Composite declined 0.39% as markets absorbed the leadership shock.
- Investors recalibrated portfolios to favor rivals: Broadcom and AMD gained more than five per cent, while Nebius and CoreWeave slumped 16.8 per cent and 6.9 per cent respectively. Briefing analyst Patrick Hare said, "That's kind of helped soften the blow of Nvidia's problems."
- Interim CEO Kress stated, "We will continue advancing the work that has made NVIDIA a leader in accelerated computing and AI." Analysts expect existing AI projects to continue without disruption despite the leadership transition.
43 Articles
43 Articles
The Asian technological actions rebounded after the fall of a key leader of Nvidia, driven by optimism about AI.The Nvidia scandal did not stop investors, who redirect their bets to firms well positioned in the sector.
AI boom faces test as Nvidia shares plunged after co-founder Jensen Huang steps down as CEO
Weakness in AI stocks dragged the Nasdaq composite down 0.9 per cent, but the rest of the market held up better. The Dow Jones Industrial Average was down a modest 15 points, or less than 0.1 per cent, as of 9:35 am Eastern time.
Global Market Today: Asian stocks gain after Nvidia shakeup, oil steady
The MSCI Asia Pacific Index rose 0.3%, led by gains in South Korea. US equity futures also advanced, with Nasdaq 100 contracts up 0.6% and those for the S&P 500 gaining 0.4% after both underlying benchmarks fell Thursday. Nvidia, the company at the heart of the AI boom, dropped 4.3% after Chief Executive Officer Jensen Huang was ousted.
On the 13th, amidst the fallout from the resignation of Nvidia CEO Jensen Huang, both the KOSPI and KOSDAQ indices in the domestic stock market are continuing their upward trend in early trading. As of 9:10 AM, the KOSPI is recording 5,492.05, up 149.32 points (2.79%). The index is 109.68 (2.0
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