Nvidia stocks fell as much as 14.3% soon after the Wall Street trading session opened on Thursday
Nvidia shares plungs 14% after Jensen Huang resigns as CEO: Nvidia shares plunged nearly 14% after Jensen Huang resigned as the Chief Executive Officer. Nvidia stock is down 32 per cent from its peak in early October, a loss more than $1.8tn in market value.
Nvidia stocks fell as much as 14.3% soon after the Wall Street trading session opened on Thursday. The stock recovered some of its losses during the session, eventually closing 4.3% lower at $166.19. The latest drop has further weakened Nvidia’s market value, wiping out nearly $500 billion since the end of last week’s trading.
Nvidia customers whose fortunes are closely tied to the chipmaker also fell on Thursday. CoreWeave, which jumped nearly 25 per cent on Wednesday following its earnings, was down 7.7 per cent. Oracle was down 0.7 per cent after largely recovering from steep losses earlier in the day.
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The leadership change has raised concerns among investors about Nvidia’s future direction without Huang. He played a key role in transforming the company from a graphics chipmaker into a global leader in artificial intelligence (AI) and accelerated computing.
