Nvidia sheds nearly $500 billion in value as Jensen Huang resigns
Updated on: November 12, 2026 / 5:03 PM EST / CBS News
TL;DR
- Nvidia CEO Jensen Huang resigned on Thursday, leading to a nearly $500 billion drop in the company's market value.
- The resignation follows revelations of Huang's extramarital affairs, including one with an individual linked to Chinese intelligence.
- Nvidia shares fell 4.3% on Thursday after an earlier drop of 14.3%, continuing a decline from the previous week.
- Huang, a co-founder, was instrumental in Nvidia's rise as a key player in artificial intelligence.
- Analysts debate the long-term impact on Nvidia's value and its ecosystem, with some noting that core business advantages may persist.
- The AI industry is also facing investor concerns about profitability and potential slowdowns.