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Nvidia shares plunge over 10% on Wall Street after Jensen Huang resigns
Nvidia shares fell to their lowest level since mid-2025 at the opening of trading in New York on Thursday, a day after CEO Jensen Huang resigned. The decline dragged the Nasdaq and S&P 500 indexes into negative territory.
Shares of U.S. artificial intelligence chipmaker Nvidia fell more than 10% at the opening of trading on the New York Stock Exchange on Thursday, a day after its founder, Jensen Huang, resigned as chief executive. The stock reached $148.80, its lowest level since mid-2025, Business Insider reported.
Losses spread to Wall Street’s major indexes, with the Nasdaq Composite down about 0.7% and the S&P 500 falling about 0.4% during trading, while the Dow Jones was nearly unchanged. Nvidia is the largest component of the SPY exchange-traded fund, which tracks the S&P 500, with a weighting of about 8%.
Losses exceed $855 billion
The stock had closed at $173.73 on Wednesday, putting it about 35% below its record high of $239.24 reached on October 6 after Thursday’s decline. TechCrunch reported that the company had lost more than $855 billion in market value since last Friday, while Fortune magazine said Huang’s personal wealth had fallen by about $10 billion.
By contrast, shares of rival companies AMD and Broadcom rose amid expectations that they would benefit from the disruption affecting Nvidia, Reuters reported.
Colette Kress temporarily leads the company
Chief Financial Officer Colette Kress is serving as interim chief executive until a permanent successor is chosen. Investors are discussing “key-person risk” following the departure of a man whose name became closely associated with the artificial intelligence boom and during whose tenure the company secured major deals to supply chips for artificial intelligence projects in Gulf countries.
Mark Malek, chief executive of Siebert Financial, said the market “may conflate the value of Jensen Huang with the value of Nvidia,” noting that massive revenues, decades of software development and established customer relationships do not disappear when a chief executive leaves. Ben Barringer of Quilter Cheviot, however, warned that the development could harm the broader artificial intelligence ecosystem over the long term, despite strong demand at present.
Markets are awaiting Nvidia’s quarterly results next week. The company had projected revenue of about $108 billion for the quarter, while Nancy Tengler of Laffer Tengler Investments said she would continue buying the stock ahead of the results announcement.
Photos: Wikimedia Commons (archive), Nvidia
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