Nvidia Shares Extend Sell-Off After Huang Departure

Jensen Huang resigned as Nvidia CEO on November 12 amid reports of two extramarital relationships, including one with a company executive and another with a woman U.S. officials reportedly suspect of ties to Chinese intelligence. Nvidia launched an independent investigation and said it had no reason to believe national security or its proprietary technology had been compromised; CFO Colette Kress is serving as interim CEO while the board searches for a successor. Nvidia shares fell more than 30% from their October peak, erasing roughly $1.8 trillion in market value, as investors weighed whether the company could sustain growth amid leadership uncertainty, competition and China-related risks. Truist and Craig-Hallum downgraded the stock to Hold and cut their price targets, while some investors viewed the lower valuation as an opportunity and retail buyers made record purchases during Thursday’s dip. Confidence in a recovery may hinge on Nvidia’s November 17 earnings and whether AI infrastructure spending remains strong. Investment is also rotating toward other chipmakers and AI infrastructure companies, including AMD, whose rally will depend on turning sales growth into durable profits and stronger cash generation.