GoKawiilNvidia stock falls for sixth straight week after Jensen Huang resigns as CEO
Nvidia shares have dropped 29% over six consecutive weekly declines, erasing about $1.6 trillion in market value and pushing the company below Apple in valuation. The slide accelerated after co-founder and longtime CEO Jensen Huang resigned Thursday following revelations of two extramarital affairs, one reportedly involving an alleged Chinese spy and another with a company vice president. The board appointed CFO Colette Kress as interim CEO while searching for a permanent replacement.
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The abrupt loss of a founder who led Nvidia for 33 years removes a central figure in the AI chip boom and in the company's political ties, including a close relationship with the Trump administration, at a moment of broader investor caution toward AI stocks. Analyst Gil Luria's reduced price target but maintained buy rating suggests Wall Street expects near-term turbulence but not a fundamental change in Nvidia's business. The decline also followed election results seen by some as a threat to AI infrastructure spending, suggesting multiple pressures are compounding beyond the leadership shakeup.
- Nvidia has fallen for six straight weeks, losing 29% of its value and about $1.6 trillion in market cap.
- Jensen Huang resigned as CEO after two extramarital affairs became public; CFO Colette Kress is now interim CEO.
- Analysts see a challenging transition ahead but some, like D.A. Davidson's Gil Luria, maintain bullish long-term ratings despite lowering price targets.
Source: cnbc.com — Ari Levy, 2026-11-13
Published there as: “Nvidia on track for longest weekly losing streak since 2012 as market value sinks by $1.6 trillion”
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