Jensen Huang’s resignation sends Nvidia shares down more than 12% in early trading
Key Facts
Nvidia announced on November 12, 2026, that Jensen Huang had resigned as CEO, chairman and a member of the board, effective immediately, according to a company statement. Its shares fell more than 12% in early trading after the announcement, according to Reuters. The resignation came as the company said its operations, customer commitments and product roadmap would continue without interruption. Chairman Harvey Jones said the company expected those activities to continue unchanged. Nvidia put interim leadership and arrangements to search for a permanent successor in place as Huang departed.
The company appointed Colette Kress, its current executive vice president and CFO, as interim CEO, according to Nvidia’s announcement. The company said the board had begun searching for a permanent CEO, considering candidates from inside and outside the company. The board also appointed Harvey C. Jones as the first chairman in the company’s history. Under the arrangement, Kress will lead the company during the transition, while the board oversees the selection of a permanent CEO. The announcement did not set a timeline for completing the search.
In the market reaction, Nvidia shares fell more than 12% in early trading on November 12, while AMD and Broadcom shares rose 2% and 5%, respectively, according to Reuters. The Associated Press reported that Nvidia shares fell 14% at the start of trading after Huang’s resignation, before quickly paring their losses. The agency said shares of other companies in the AI chip sector rose. Nvidia closed at $166.19 in the same session, according to EL7 data. The stock’s movement during the session ranged from a sharp decline at the open to a close at that level.
Hyperliquid lists the xyz:NVDA perpetual contract, which provides synthetic price exposure to Nvidia shares, according to the HyperAcademy page. Opening a position in the contract does not mean owning company shares, nor does it give the holder voting rights or dividends. The contract trades around the clock, including while the NYSE and Nasdaq are closed. This allows price exposure to be traded outside stock-market hours, while the contract remains distinct from owning the shares themselves. The available information did not provide a documented figure for record trading volume in the contract or its ranking among markets on Hyperliquid.
HIP-3 markets accounted for about 30% of total Hyperliquid trading during the thirty days ended September 8, 2026, while their cumulative trading volume had exceeded $548.1 billion since launch, according to a filing by Hyperliquid Strategies with the U.S. Securities and Exchange Commission. These figures provide context on the breadth of activity in those markets on the platform through that date. In a separate filing, Reuters reported that Huang’s stake in Nvidia was about 3.61%. The agency also said the board was searching for a permanent CEO from inside or outside the company. This information relates to the periods covered by the sources.
The next milestone for investors comes on November 17, when Nvidia will report third-quarter results for fiscal 2027 at around 1:20 p.m. Pacific time, according to the company’s schedule. An earnings call is scheduled to follow at 2:00 p.m. Pacific time. The company said the date remained as previously announced. The results will be released five days after Huang’s resignation. The update will combine a financial performance report with the continuation of the company’s leadership transition.