On Friday, November 13, 2026, the NVIDIA (NASDAQ: NVDA) share price closed down approximately 2%, pushing the corporate market capitalization below the 4-trillion-US-dollar threshold for the first time since July 2025, as reported by Finanzen.
The market reaction followed a rating downgrade by HSBC and ongoing leadership uncertainty following the resignation of Jensen Huang.
The British bank HSBC downgraded NVIDIA stock from “Buy” to “Hold” and set a price target of 170 US dollars. According to CNBC, analyst Frank Lee cited the open succession at the head of the company following Jensen Huang’s resignation as the primary reason for the step.
Until then, Chief Financial Officer Colette Kress is leading the company on an interim basis. The analyst views stricter export restrictions as a serious possibility, which could potentially reduce earnings per share in fiscal year 2028 by 13 percent compared to the HSBC base scenario of 15.65 US dollars.
Barclays maintained its positive rating but lowered its price target from 275 to 210 US dollars, pointing to the leadership change and structural risk due to key person dependency, according to data from TipRanks and Investing.com. Rosenblatt Securities maintained a buy rating while reducing its price target from 390 to 300 US dollars.
Bernstein Research had previously downgraded the stock to “Market-Perform” in a study published on Thursday and lowered its price target from 400 to 200 US dollars. Am Freitag beließ Analyst Stacy Rasgon die Einstufung angesichts des Rücktritts von Jensen Huang unverändert.
Brad Gerstner, head of Altimeter Capital, published a letter to the board on the platform X on Friday, which was also signed by Gavin Baker of Atreides Management. Großinvestoren wollen laut Analysten eine Rückkehr von Jensen Huang offenhalten.
Altimeter held 9.4 million shares valued at nearly 1.9 billion US dollars as of June 30, making NVIDIA its largest disclosed equity holding, while Atreides held 1.2 million shares valued at nearly 250 million US dollars. Additional support for Huang came from SpaceX CEO Elon Musk, who said that he signed an online petition for Huang’s reinstatement.
The petition’s organizers reported more than 100,000 signatures, including over 5,000 from NVIDIA employees. According to Yahoo Finance, the board of directors stated on Friday that it is still selecting a personnel consultancy for the search and has not yet officially approached any candidates.
Lori Huang is chairwoman of the Jen-Hsun and Lori Huang Foundation, which holds 9 billion US dollars in assets. She and Jensen Huang founded the foundation in 2007, when tax filings showed it with a net worth of 13,000 dollars and no donations.
From the beginning, the foundation focused in part on Oregon State University, where the Huangs met as lab partners in an electrical engineering class. In 2024, the foundation provided the university with approximately 30.5 million US dollars across three grants.
The couple also supported other projects, including more than 516,000 US dollars to the hunger relief organization Second Harvest of Silicon Valley, 100,000 US dollars each to Doctors Without Borders and a college for adults with developmental disabilities, and a total of 95,000 US dollars to other organizations. Lori Huang has not publicly commented on her role as president or on the infidelity reports regarding her husband and his subsequent resignation.
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