NVIDIA’s leadership change coincided with a 12.75% five-session stock decline through Nov. 13, while the S&P 500 and Nasdaq advanced for the week, putting the chipmaker at odds with the broader U.S. market.
Reuters reported NVIDIA shares closed at $162.85 on Friday, down 2.01% that day and 12.75% over the five trading sessions. The S&P 500 gained 2.5% and the Nasdaq Composite added 2.3% for the week, the Associated Press reported, although both indexes fell Friday.
A filing with the Securities and Exchange Commission (SEC) says NVIDIA’s directors accepted CEO Jensen Huang’s resignation from his roles as company president, chief executive and board member on Nov. 11; it took effect immediately. NVIDIA announced the transition Nov. 12 and named Chief Financial Officer Colette Kress interim CEO while it searches for a permanent successor. The board will consider candidates from inside and outside the company, NVIDIA said. Kress will continue as CFO. “Our focus remains on serving our customers, partners, developers and shareholders,” she said.
On Nov. 8, NVIDIA said its board had opened an independent investigation after reports that Huang had been targeted by a foreign intelligence effort. The board said it had no reason to believe national security or NVIDIA secrets had been compromised. The company’s transition announcement gave no reason for Huang’s departure and made no connection to the inquiry.
CNBC Investing Club reported that it lowered NVIDIA to a hold-equivalent rating Tuesday but kept the shares in its portfolio. The club said it plans to sell Intel and use the proceeds to start an AMD position when trading restrictions permit, citing AMD’s potential to gain GPU share and meet data-center CPU demand. It also reported reducing some data-center exposure and adding consumer-staples holdings.
NVIDIA is scheduled to report fiscal third-quarter 2027 results at about 4:20 p.m. ET (21:20 UTC) Tuesday, Nov. 17, followed by an earnings call at 5 p.m. ET (22:00 UTC).
