Nvidia CEO Huang resigns over affairs, CFO Kress takes over as interim chiefPutin holds firm on territory and troops as Europe gets a seat at next talksTrump says US needs no Iran deal and pulls Vance from talksNvidia falls below $4tn as CEO Huang resigns, hitting AI stocksIsraeli strike on Gaza's Nasser Hospital kills surgeon despite ceasefireMSF and Africa CDC warn Congo Ebola response is falteringRussia and Ukraine trade strikes as Starshield curbs hamper Ukrainian defencesTwo tankers burn in Hormuz and another is hit off UAE coastHouthis claim strikes on Saudi Aramco and airbases as Yemen displacement passes 320,000Brooklyn collapse toll reaches eight as rescue search endsUS and China discuss trilateral summit with Russia after Rubio-Wang callChina says US is using Nvidia scandal as pretext for tech curbsIsrael readies for possible Iran strike as Netanyahu and Eisenkot clashIndonesian vice president resigns after courts reject school credentialsXi says Taiwan 'reunification' will happen, Taipei rejects itTrump threatens to double tariffs on Mexico over migrantsFourteen killed in 23-vehicle crash and fire in FujairahFed hike expectations lift yields and weigh on Asian currenciesTen police officers and 18 fighters killed in northwest Pakistan attackEurope demands a say in security decisions as diplomats gather in DublinSpain passes housing protections after general strike clashesBaby dies of cold in Gaza as 53 countries and organizations urge unrestricted aidNew hoax bomb threats target more than 1,800 Italian schoolsEU and UK prepare new Russia sanctionsSpaceX plans $74bn data-centre investment in Texas and ArizonaAmnesty says UN and South Sudan officials failed to prevent village massacreIndia's inflation tops RBI limit as rupee falls to 94 per dollarTwo Iranian men convicted in UK of spying on journalists for IranMercedes halts investment in Germany as IG Metall calls full-day strikesOil falls below $90 for first time since August as investors weigh US-Iran diplomacyOne killed and four wounded in shooting near White House in WashingtonSoftBank and Nvidia back Agile Robots at $8.5bn valuationUS existing home sales hit lowest level since 2010Dutch coalition nears collapse over wealth taxUkraine-founded naval drone maker UForce valued at $6bnChina approves Eli Lilly's weight-loss pill orforglipronUK economy grows 0.7% in third quarter, most in two and a half yearsKazakh sovereign fund and railway heads arrested on suspicion of corruptionNorth Korea warns US and allies of 'concrete actions' over submarine buildupNvidia CEO Huang resigns over affairs, CFO Kress takes over as interim chiefPutin holds firm on territory and troops as Europe gets a seat at next talksTrump says US needs no Iran deal and pulls Vance from talksNvidia falls below $4tn as CEO Huang resigns, hitting AI stocksIsraeli strike on Gaza's Nasser Hospital kills surgeon despite ceasefireMSF and Africa CDC warn Congo Ebola response is falteringRussia and Ukraine trade strikes as Starshield curbs hamper Ukrainian defencesTwo tankers burn in Hormuz and another is hit off UAE coastHouthis claim strikes on Saudi Aramco and airbases as Yemen displacement passes 320,000Brooklyn collapse toll reaches eight as rescue search endsUS and China discuss trilateral summit with Russia after Rubio-Wang callChina says US is using Nvidia scandal as pretext for tech curbsIsrael readies for possible Iran strike as Netanyahu and Eisenkot clashIndonesian vice president resigns after courts reject school credentialsXi says Taiwan 'reunification' will happen, Taipei rejects itTrump threatens to double tariffs on Mexico over migrantsFourteen killed in 23-vehicle crash and fire in FujairahFed hike expectations lift yields and weigh on Asian currenciesTen police officers and 18 fighters killed in northwest Pakistan attackEurope demands a say in security decisions as diplomats gather in DublinSpain passes housing protections after general strike clashesBaby dies of cold in Gaza as 53 countries and organizations urge unrestricted aidNew hoax bomb threats target more than 1,800 Italian schoolsEU and UK prepare new Russia sanctionsSpaceX plans $74bn data-centre investment in Texas and ArizonaAmnesty says UN and South Sudan officials failed to prevent village massacreIndia's inflation tops RBI limit as rupee falls to 94 per dollarTwo Iranian men convicted in UK of spying on journalists for IranMercedes halts investment in Germany as IG Metall calls full-day strikesOil falls below $90 for first time since August as investors weigh US-Iran diplomacyOne killed and four wounded in shooting near White House in WashingtonSoftBank and Nvidia back Agile Robots at $8.5bn valuationUS existing home sales hit lowest level since 2010Dutch coalition nears collapse over wealth taxUkraine-founded naval drone maker UForce valued at $6bnChina approves Eli Lilly's weight-loss pill orforglipronUK economy grows 0.7% in third quarter, most in two and a half yearsKazakh sovereign fund and railway heads arrested on suspicion of corruptionNorth Korea warns US and allies of 'concrete actions' over submarine buildup
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Symbolic image: Nvidia falls below $4tn as CEO Huang resigns, hitting AI stocksSymbolic image

Nvidia falls below $4tn as CEO Huang resigns, hitting AI stocks

4 sources

Nvidia's market value fell below $4 trillion on Thursday after CEO Jensen Huang resigned. AI-linked stocks fell worldwide.

Nvidia said Chief Financial Officer Colette Kress will be interim CEO while it seeks a permanent successor. The board had announced an investigation on Sunday, 8 November, into Huang's relationship with a businesswoman, Alice Huang, whom the Jerusalem Post says is alleged to be a Chinese spy. Nvidia has lost about $300 billion in value since. Shares fell 10.3% in premarket trading to about $163, and Bloomberg reports Nvidia's default risk neared a record high.

Neoclouds and chipmakers

CoreWeave fell 13.6% a day after surging more than 27% on earnings, and Nebius dropped 20% after guiding 2026 revenue to the low end of its range. Micron lost 5.8% and Dell about 7%, while AMD and Broadcom rose 2% and 1.4% on hopes of gains from Nvidia's turmoil.

Financing model under scrutiny

Jun Bei Liu of Ten Cap said nearly all new cloud data center firms were sponsored by Nvidia in a circular financing world. AI stocks were already weak after the Democratic midterm sweep raised fears of tighter data center rules.

Wider markets

Japan and South Korea closed nearly 0.7% lower, and European tech stocks fell about 1%. Nvidia trades at about 12 times forward earnings, its lowest since November 2012, according to LSEG.

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