Overview
- Nvidia confirmed Thursday that founder Jensen Huang resigned and that Chief Financial Officer Colette Kress will serve as interim chief executive while the board searches for a permanent successor.
- Shares plunged as much as 14% at the open, wiping away hundreds of billions in market value before heavy retail buying estimated at about $111 million in the first 30 minutes helped pare losses.
- The shock sent AI and semiconductor stocks swinging worldwide, with rivals such as AMD and Broadcom gaining and Korea’s markets hit hard as Naver and semiconductor suppliers fell.
- Investors are watching Nvidia’s upcoming earnings call next Tuesday and Anthropic’s planned IPO next week for signs of how the AI trade and corporate demand might hold up under heightened uncertainty.
- Reports that one reported relationship involved a woman U.S. officials suspect of being a Chinese intelligence asset have raised national-security and export-control concerns that could affect global chip access and partner firms.