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Business & Finance · November 13, 2026

Nvidia closes below $4T market cap for first time since July 2025 in Huang fallout

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Nvidia co-founder Jensen Huang resigned as CEO, president, and director on Thursday following revelations regarding extramarital affairs. CFO Colette Kress has been named interim CEO as the board begins a search for a permanent successor. The resignation follows a week of significant market volatility for the chipmaker, which saw its market capitalization fall below $4 trillion for the first time since July 2025. While some investors, like billionaire Leo KoGuan, have announced they will stop purchasing Nvidia stock in the wake of the 'soul' of the company's departure, other tech figures including Elon Musk and Palmer Luckey have voiced support for Huang. Reports have emerged detailing friction between Huang and Kress prior to his exit, as well as potential conflicts involving Huang's family members who remain in executive roles at the company.

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Reported by multiple outlets

  • Jensen Huang resigned as CEO, president, and a member of the board of Nvidia on Thursday.
  • Colette Kress, Nvidia's CFO, was appointed as interim CEO.
  • The resignation followed reports of Huang's extramarital affairs.
  • Nvidia's market capitalization fell below $4 trillion during the week of the resignation.

Reported by only some outlets

  • One affair involved a former executive at Megaspeed who is alleged by U.S. intelligence to be a Chinese spy.
  • A second affair allegedly involved an executive within Nvidia.
  • Elon Musk stated on X that it would be an 'honor' to hire Huang.
  • Billionaire investor Leo KoGuan announced he would stop buying Nvidia stock and instead follow Huang to future ventures.
  • Harvey Jones has become Nvidia's first board chair.
  • Huang has been called to testify before Congress.
  • Huang's children and son-in-law currently serve as executives at Nvidia.
  • Nvidia's stock experienced its longest weekly decline streak since 2012.

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