Nvidia sinks 8.2% after Jensen Huang exits, Kress takes helm
Why it matters: The leadership rupture rippled across AI-linked stocks, with CoreWeave down 9.1% and Nvidia erasing more than $550 billion in value this week.
Nvidia shares slid 8.2% on Thursday, dragging AI-linked stocks lower after longtime chief executive Jensen Huang resigned amid a widening scandal tied to alleged affairs. Chief financial officer Colette Kress took over as interim CEO while the company searches for a permanent replacement. The sell-off spread across the AI supply chain: CoreWeave fell 9.1%, Nebius dropped 16.2%, Marvell Technology lost 3.8% and Oracle gave up 2.6%. Nvidia has shed more than $550 billion in market value since its board disclosed an investigation on Sunday into Huang’s relationship with Alice Huang, a businesswoman alleged to be a Chinese spy. The turmoil hit a sector already under pressure from funding concerns and fears of tighter regulation on data-center expansion.