NVIDIA Shares Plunge as Jensen Huang Steps Down

Jensen Huang’s abrupt resignation is continuing to shake Wall Street. As of 9 a.m. U.S. Eastern time on Thursday, NVIDIA (NVDA) shares were trading at $155.85 in pre-market trading, down $17.88, or 10.29%. Investors are closely watching whether the leadership change will affect NVIDIA’s AI chip roadmap and its relationships with major customers. The stock has been under heavy pressure all week, with the company’s market value shrinking by roughly $600 billion.

According to NVIDIA’s official statement, Huang’s resignation as president, chief executive officer, and board member took effect immediately. Chief Financial Officer Colette Kress will serve as interim CEO while the board searches for a permanent successor. The board also appointed longtime director Harvey C. Jones as the company’s first-ever chairman, formally beginning NVIDIA’s “post-Huang” era.

The abrupt exit follows days of mounting controversy. Huang had become embroiled in reports of extramarital affairs and related governance concerns. Reuters reported that a relationship with a woman suspected by U.S. intelligence of ties to Chinese intelligence activities prompted the board to launch an independent investigation. The New York Times later reported a second alleged affair involving a senior NVIDIA executive who reported directly to Huang, further intensifying pressure on his leadership.

NVIDIA’s board has previously said it has no reason to believe company secrets or U.S. national security were compromised. Huang’s departure does not confirm the intelligence-related allegations, which remain under investigation.

Notably, the board had publicly reaffirmed its confidence in Huang and the management team as recently as November 8. Just days later, after a board meeting on Wednesday, U.S. time, the company announced his immediate resignation, ending days of speculation about his future.

Huang, 63, co-founded NVIDIA in 1993 and transformed it from a graphics-chip maker into the central supplier of AI computing power. Through the CUDA software ecosystem and data-center GPUs, he positioned the company as a key enabler of the generative AI boom.

Kress, who has served as CFO since 2013, has long overseen financial strategy, capital allocation, and investor communications. Markets will now watch whether she can stabilize confidence and how a permanent successor will maintain NVIDIA’s technology direction and customer relationships.

With NVIDIA scheduled to report quarterly results on November 17, U.S. time, investors will focus not only on AI chip demand and product outlook but also on the progress of the leadership transition and any lingering effects of the recent upheaval.