Nvidia Shares Drop After CEO Jensen Huang Steps Down

Nvidia shares dropped sharply in Thursday's trade, falling 14.3% to $148.80 after Chief Executive Officer Jensen Huang resigned with immediate effect. The decision ends Huang's 33-year tenure leading the chipmaker.

Leadership Changes

Colette Kress, who has served as Nvidia's Chief Financial Officer since September 2013, takes over as interim CEO while the board searches for a permanent replacement. The board plans to evaluate both internal and external candidates. Meanwhile, veteran tech executive Harvey C. Jones has been named the company's first-ever board chairman.

Market Impact

The sudden exit triggered investor worry about the firm's direction without Huang, who guided its growth into a dominant force in artificial intelligence and accelerated computing. The stock had already fallen nearly 9% in after-hours trading when reports of his removal surfaced.

Context

Leadership changes at major technology firms often trigger short-term market anxiety as investors reassess future growth plans. Nvidia faces upcoming third-quarter fiscal 2027 financial results on November 17, making clear communication from the new leadership team critical for market stability.