NVIDIA Shares Gain More Than 2% Before Friday Open Amid Surprise Leadership Transition
Key Facts
NVIDIA shares rose more than 2% in premarket trading on Friday, November 13, 2026, according to the Associated Press. The move followed the company’s announcement the previous day that Jensen Huang had resigned with immediate effect as chairman, chief executive and a member of the board. The company said Colette Kress would serve as interim CEO while continuing as executive vice president and chief financial officer. The board began searching for a permanent chief executive, considering candidates from inside and outside the company. The surprise transition puts the company’s continuity and chip supplies at the center of what investors are watching, according to the Associated Press.
The premarket rise was not a steady continuation of the stock’s moves in the sessions around the announcement. NVIDIA shares ended Thursday, November 12, down 4.3%, although they had moved away from their intraday lows, according to a Reuters report published by Investing.com. In the same session, the S&P 500, Dow Jones and Nasdaq each closed down 0.4%, after the S&P 500 erased most of its initial losses of nearly 1%, according to the Associated Press. A later Associated Press report on Friday morning said the stock was down 1.4% in premarket trading, after an earlier report by the agency had cited gains of more than 2%. The percentages reflect two different reporting times during premarket trading, while the stock remained volatile around the leadership-transition announcement.
The stock had fallen more than 30% since reaching a record level in October, then lost another 5% on Thursday, according to the Associated Press. In the same session, NVIDIA rival AMD rose 5.9%, and Broadcom gained 5.5%, according to Reuters via Investing.com. Investor Peter Tuz said gains by some rivals offset part of NVIDIA’s losses, adding: "The market has digested it reasonably; you notice that some of NVIDIA’s losses have been offset by gains among competitors." The Associated Press also noted that Broadcom, Intel and AMD shares rose after Huang’s departure. The report linked this to the possibility that uncertainty would prompt some NVIDIA customers to diversify their suppliers, while an analyst at eMarketer said the company would have to prove it could maintain its position in AI without Huang.
Kress took over on an interim basis after serving as executive vice president and chief financial officer since joining NVIDIA in September 2013, according to the company’s announcement. Alongside the search for a permanent CEO, the company appointed Harvey C. Jones as its first chairman of the board. Supply continuity is a key concern as investors assess the potential impact of Huang’s departure on the chip market and the global AI industry, according to the Associated Press. The agency had reported that Huang projected in March that orders for the company’s chips would reach $1 trillion by the end of 2026, twice his estimate a year earlier. The company’s upcoming financial results are its first announced milestone after the leadership change.
NVIDIA said it would release results for the third quarter of its fiscal 2027 on Tuesday, November 17, at about 1:20 p.m. Pacific time, as previously scheduled. The company said its results announcement call would begin at 2 p.m. Pacific time. The date follows Huang’s resignation and the announcement that Kress would serve as interim CEO, while the search for a permanent successor remains underway. The results are expected to give investors a chance to track the company’s performance in its first scheduled financial disclosure after the leadership-transition announcement. The Associated Press also linked market interest to the potential effects of Huang’s departure on chip supplies and the global AI industry.