Business & Finance · November 12, 2026
Nvidia sheds nearly $500 billion in value as Jensen Huang resigns
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Nvidia CEO Jensen Huang resigned on Thursday morning following reports of two extramarital affairs, one involving an alleged Chinese spy and another with a company executive. The news triggered a significant sell-off in Nvidia shares, with the company losing between $340 billion and $500 billion in market value during the week's trading. Chief Financial Officer Colette Kress has been named interim CEO. The leadership crisis has prompted analysts to downgrade the stock as the market assesses the potential impact on the global artificial intelligence supply chain, where Nvidia holds a dominant market position.
Read the original coverage
Jensen Huang, Nvidia’s Ousted CEO, Was the Face of the A.I. Boom Powering the U.S. Economy
Read at The New York Times ↗Nvidia Live Updates: Chip Giant's Stock Tumbles Over Jensen Huang Crisis
Read at Wall Street Journal ↗- CBS NewsMainstream
Nvidia sheds nearly $500 billion in value as Jensen Huang resigns
Read at CBS News ↗ Nvidia Board Meets to Consider Replacing Jensen Huang
Read at Bloomberg ↗- The GuardianMainstream
Nvidia board reportedly meets to decide CEO Jensen Huang’s future as chip giant’s share price plunges – follow live
Read at The Guardian ↗ - New York PostTabloid
Nvidia’s stock slides 11% in opening trades after CEO Jensen Huang resigns over affairs
Read at New York Post ↗ - MarketWatchFinancial
Nvidia’s Jensen Huang crisis tests how much of the AI industry depends on one man
Read at MarketWatch ↗ - FortuneFinancial
Lori Huang, not Jensen, is president of the Huangs’ $9 billion foundation—and co-trustee of the trusts holding most of their Nvidia stake | Fortune
Read at Fortune ↗ - Business InsiderMainstream
Nvidia stock slides after report board is preparing to oust Jensen Huang after second affair
Read at Business Insider ↗ - CNBCMainstream
Jensen and Lori Huang's Nvidia fortune is jointly controlled. How that makes things complicated now that he's resigned
Read at CNBC ↗ - ForbesFinancial
Nvidia Sinks 8% After Jensen Huang Resigns—Pushing Market Cap Below Microsoft As Rival Chipmakers Rise
Read at Forbes ↗
Reported by multiple outlets
- Jensen Huang resigned as CEO of Nvidia on Thursday.
- Nvidia shares experienced a significant decline following the news of Huang's departure.
- The resignation followed reports of two extramarital affairs.
- CFO Colette Kress was named interim CEO.
- Nvidia is a dominant player in the AI semiconductor market.
Reported by only some outlets
- The New York Times reported that Huang's second affair was with a subordinate executive, Kimberly Powell.
- The first affair involved a woman suspected by U.S. intelligence agencies of being a Chinese asset or spy.
- Huang admitted to being unfaithful in a company memo made public on November 8.
- Baird analyst Tristan Gerra downgraded Nvidia stock from buy to neutral.
- Lori Huang, Jensen's wife, serves as the president of their $9 billion philanthropic foundation.
- Lori and Jensen Huang are co-trustees of family trusts holding nearly 669 million Nvidia shares.
Industry-friendly coverage frames it as…
Most coverage focuses on the potential for market instability, the disruption of AI supply chains, and the loss of a key 'face' for the industry who had been instrumental in navigating regulations and driving growth.
Skeptical / consumer coverage frames it as…
Some outlets question the vulnerability of the tech sector and the U.S. economy due to an over-reliance on a single individual, while others highlight governance risks and the impact of the CEO's personal conduct on corporate value.
Numbers that differ
- Total market value lost: Business Insider reports $340 billion as trading began; New York Post and CBS News report nearly $500 billion since the previous week's close.
- Nvidia stock percentage drop: New York Post reports 11% in opening trades; CBS News reports a 4.3% drop after paring back a 14.3% decline; Bloomberg reports 7% in premarket.
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CadNews does not determine absolute truth or endorse political viewpoints. It compares publicly available reporting, identifies shared facts, highlights framing differences, and flags uncertainty.