Originally reported November 13, 2026. Nvidia shares closed down 4.43% at $166.19 on November 12, wiping more than $180 billion from the company’s market value, as investors reacted to a leadership change. The shares had fallen as much as 14% early in the session before recovering some of their losses.
Citing Xinhua, the original report said Nvidia announced that co-founder Jensen Huang had resigned as president, chief executive and director, effective immediately. Executive vice president and chief financial officer Colette Kress was named interim CEO and will retain her existing roles until a successor is appointed. The board has begun a search covering internal and external candidates.
The report said Nvidia’s board also appointed Harvey C. Jones as its first chairman. Jones expressed confidence in Kress and the management team and said he expected normal operations, customer commitments and the product roadmap to continue.
Shares of AI-chip competitors AMD and Broadcom rose more than 5% that day, while several companies tied to Nvidia fell, according to the report. Truist Securities analyst William Stein cut his Nvidia rating from “buy” to “hold” and lowered his price target from $346 to $174. Bernstein lowered its price target from $400 to $200.
Whether Nvidia will maintain its approach to reserving supplier capacity and upgrading product specifications remains an open question, analyst Ming-Chi Kuo wrote in a social-media post cited by the report.
