Nvidia Crisis Rattles Stocks as Shares Fall for Sixth Week

U.S. stocks ended lower Friday as Nvidia’s leadership crisis rattled technology shares, although the S&P 500 and Nasdaq posted weekly gains after ending four-week losing streaks. Nvidia fell for a sixth consecutive week, losing about $650 billion in market value during the week after founder and CEO Jensen Huang suddenly resigned amid scrutiny of his personal relationships. CFO Colette Kress was named interim CEO, former Synopsys chief Harvey Jones became board chair, and reports said the board had approached Arm CEO Rene Haas as a possible successor. Investors initially rotated toward rivals AMD and Broadcom, but chip stocks broadly retreated Friday as markets reconsidered Nvidia’s role in AI expansion; analysts said its products and outlook remained intact, while continued rapid product development and AI investment would be key to its competitive position. Inflation data did little to shift expectations for further Federal Reserve rate hikes.