Nvidia drops 8.2% as Jensen Huang exits and AI stocks slide
Why it matters: Nvidia has shed more than $550 billion in value this week, pulling down chip, cloud and data-center names.
Nvidia shares fell 8.2% on Thursday to their lowest level in more than 16 months after Chief Executive Jensen Huang resigned, deepening a sell-off across AI-linked stocks. Chief Financial Officer Colette Kress took over as interim CEO while the company searches for a permanent successor. The drop left Nvidia on track to close below a $4 trillion market value for the first time since July 2025. CoreWeave fell 9.1%, Nebius sank 16.2%, and Marvell Technology, Oracle, Micron Technology, Dell, Lumentum and Coherent also traded lower. The broader decline hit as investors weighed leadership turmoil at the company at the center of the AI chip buildout.