Nvidia shares closed down 4.43% at $166.19 on November 12, 2026, following the resignation of co-founder Jensen Huang as president, CEO and a director, according to The Paper. The report put Nvidia’s market value at $4.0052 trillion after a one-day decline of more than $180 billion. Shares had fallen as much as 14% early in the session before recovering some ground.
Citing Xinhua, The Paper reported that Nvidia named executive vice president and chief financial officer Colette Kress interim CEO, effective immediately. She will retain her existing roles while the board considers internal and external candidates for a permanent successor. The board also appointed Harvey C. Jones as its first chairman.
The report said shares of AMD and Broadcom rose more than 5% that day, while several companies with close ties to Nvidia declined. Analysts cited in the article raised questions about the leadership transition and its potential effect on Nvidia’s supply chain, but those longer-term effects remain uncertain.
Truist Securities analyst William Stein cut his Nvidia rating from “buy” to “hold” and lowered his price target from $346 to $174, according to the report. Bernstein reduced its target from $400 to $200.