Nikkei rises 1.4% as Nvidia leadership shifts unexpectedly and search for successor begins
Key Facts
Japan’s Nikkei rose 1.4% on Friday, November 13, amid relative stability in Asian shares, following market turbulence during the week as Nvidia’s leadership changed. Reuters said the index added that amount in the session, without directly linking the gains to Jensen Huang’s resignation. The company announced on November 12 that Huang had resigned as president, chief executive and board member, effective immediately. The move puts the company’s leadership future at the forefront of investor attention, given Nvidia’s impact on the artificial intelligence sector and chip stocks. The Nikkei closed at 60,819.36 points on November 12, according to EL7 data, before Friday’s gains reported by Reuters.
Nvidia named Colette Kress, its current CFO and executive vice president, interim CEO. Kress will also continue her financial responsibilities until a permanent successor is appointed, keeping the finance leadership role in her hands during the transition. The company said its board had begun a search for a permanent CEO and would assess candidates from inside and outside the company. This arrangement makes the succession process a direct focus for investors, alongside monitoring the company’s performance in a market shaped by expectations for the artificial intelligence sector. The company did not set a date for completing the search for a permanent CEO.
Kress said Nvidia’s strength had always come from its employees, adding that she was committed, together with the leadership team, to building on the foundation Huang had created over 33 years. Her remarks offer a message of continuity within the company as its top executive position changes. Huang resigned on Thursday, Reuters reported, following reports of romantic relationships, including one with a woman suspected of having links to espionage for China. The agency said his departure could have implications for U.S. chip export policy and the artificial intelligence sector. Those implications remain tied to how the leadership transition unfolds and what becomes clear about the company’s direction and the relevant policy.
The Nikkei’s rise on Friday followed pressure on semiconductor stocks and data center companies in the previous session. Reuters reported that Nvidia shares fell 8.8% in extended trading, while Taiwan’s index declined 2.6%, South Korea’s Kospi fell 0.9% and the Nikkei dropped 0.9% in its report on November 12. This places Friday’s gains in the context of a recovery after a session of declines across several Asian markets, rather than a continuous upward move. Nvidia shares also closed at $166.19 on November 12, according to EL7 data. The session moves show a difference between the day of pressure and the day of recovery, without by themselves proving that Huang’s resignation caused the Nikkei’s direction.
The developments come as Nvidia shares have experienced notable volatility; the Associated Press reported that the stock had fallen 27% from its record high set in the previous month through Wednesday, November 11. Over the four years through that October 2026 peak, the stock rose 1,722%, compared with gains of nearly 109% for the S&P 500 over the four years through November 2026. The contrast highlights the scale of the stock’s previous advance, as well as its retreat from the peak before the leadership transition was announced. In Japan, the Cabinet Office calendar lists November 16 as the release date for the preliminary estimate of gross domestic product for the July-to-September period. The upcoming economic estimate is the next milestone for monitoring Japan’s market after the Nikkei’s Friday gains.