Markets Whiplashed as Huang Quits Nvidia
Colette Kress will serve as interim chief executive as Nvidia shares fell 13% at the open and the board seeks a permanent replacement.
- 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.
15 Articles
15 Articles
Channel News Asia
The New Indian ExpressMarkets whiplashed as Huang quits Nvidia
NEW YORK: Jensen Huang's resignation as CEO of Nvidia whiplashed markets on Thursday (Nov 12), hitting the AI giant but lifting some of its rivals as investors tried to game out the ripple effe
Reformatorisch Dagblad
New York stock exchanges closed with modest losses on Thursday, with tech stocks falling the hardest. Trading was dominated by the crisis at Nvidia, the world's leading seller of AI chips. CEO Jensen Huang was forced to step down after multiple affairs of his came to light, including one with a woman suspected of being a Chinese spy.
연합뉴스-Yonhap News Agency
조선일보New York Stock Market Falls on Jensen Huang's Resignation and Soaring Oil prices... Nasdaq Down 0.4%
(New York = Yonhap News) Correspondent Kim Yeon-sook = On the 12th (local time), the New York stock market saw major indices... in the aftermath of the resignation of Nvidia CEO Jensen Huang and soaring oil prices.
Nvidia's stock fell sharply after the resignation of CEO Jensen Huang, and the exchange reaction affected not only the US but also the international market.
The New York Stock Exchange closed lower, affected by the problems of the Nvidia giant after the resignation of its CEO Jensen Huang, but without Wall Street...More...
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