Nvidia stock plummeted as the chipmaker faces a leadership crisis following the resignation of Chief Executive Jensen Huang.
Nvidia shares fell as the company grappled with the departure of its leader. President Donald Trump said that the FBI is investigating the affair, which Huang has acknowledged and stated “there is no excuse for my actions.”
The departure of Huang, who helped lead the artificial intelligence revolution by developing GPU chips for AI training, inference, and agents, has raised concerns that the industry’s momentum could be disrupted. By the middle of 2026, Nvidia had provided nearly 18 million H100 chip equivalents out of a global total of just under 27 million installed, a dominant position that left competitors like Google, AMD, and Amazon behind.
BREAKING: The S&P 500 erases all losses and turns green as investors buy the dip in Nvidia, $NVDA. Nvidia has now erased more than half of its loss on the day. pic.twitter.com/mEee9b3Nud
“This is a golden opportunity for Amazon, for Google, for AMD, for Broadcom, for OpenAI and Anthropic, who are hiring chip experts to help them design their own chips,” said Jed Ellerbroek, portfolio manager at Argent Capital Management.
The leadership transition triggered immediate position reductions in semiconductor stocks, which pulled down the Nasdaq 100 index. From a technical perspective, the November panic led to a break below the uptrend line and a decline in prices.
You're going to get a lot of AI FUD today but just remember that $META, $AMZN, $GOOGL, $SPCX and $MSFT aren't suddenly going to stop building capacity, enterprises aren't going to abandon AI adoption and inference workloads aren't going to disappear because $NVDA has a new CEO.… pic.twitter.com/QRUZwXczAB
Analysts are watching for potential price movements; a rejection of prices from below the 200-period EMA following a negative outcome of the Nvidia vote could hypothetically lead to a test of the 27,300 support zone, or even an extreme retest of the 26,340 low.
Oil prices provided a tailwind for the market rebound. This decline followed comments from President Donald Trump on Truth Social, where he suggested that a deal with Iran is no longer necessary, stating, “We don’t need a deal with Iran. Those days have long since passed.”
Earlier coverage: Nvidia Shares Drop 8% Following Reports Board May Oust Jensen Huang
88% of surveyed $NVDA employees reportedly want Jensen Huang to remain CEO while just 1% want him removed. Would've been pretty wild if Nvidia employees turned on the guy who made half of them millionaires. pic.twitter.com/3uxDZLZfCI
More on Jensen Huang
Nvidia can only bottom when the majority of analysts cut and run.. We are getting the early birds out of the cage
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- Bitcoin Drops 2.2% as Nvidia Leadership Concerns Hit Tech Stocks (world-today-news.com)
- What to Know About the Turmoil at Nvidia as Jensen Huang Resigns as CEO (time.news)
