# Nvidia CEO exit sparks market turbulence

> Nvidia shares drop 2% as Jensen Huang steps down amid scandal.
- Title: Nvidia CEO exit sparks market turbulence · CNBC | Shortify
- Summary: Nvidia shares drop 2% as Jensen Huang steps down amid scandal. Nvidia's stock fell 2% Friday after CEO Jensen Huang resigned following reports of…
- Keywords: nvidia, jensen huang, ceo resignation, stock market, tech stocks, ai infrastructure, nasdaq, s&p 500, dow jones, producer price index, wholesale inflation, CNBC
- Source: CNBC — https://cnbc.com/2026/11/12/stock-market-today-live-updates.html
- Author: Sean Conlon,Tobias Burns
- Published: 2026-11-12T23:05:54+00:00
- Read time: 2 min
- Topics: nvidia, jensen huang, ceo resignation, stock market, tech stocks, ai infrastructure, nasdaq, s&p 500, dow jones, producer price index, wholesale inflation, business
## Nvidia CEO resignation
Nvidia's founder and CEO Jensen Huang resigned after reports of extramarital affairs and a relationship with a woman U.S. intelligence officials believe is a Chinese spy.

> Jensen Huang resigned as CEO of Nvidia on Thursday after The New York Times reported that Huang had a romantic relationship with Kimberly Powell, vice president of health care at Nvidia
## Nvidia stock reaction
Nvidia shares fell 2% Friday, extending the more than 4% drop it saw in the previous session.
## Market performance
The Nasdaq Composite fell 0.91% to 25,136.27, while the S&P 500 slid 0.4% to 7,561.67.
## Market weekly performance
The Nasdaq added 2.3%, while the S&P 500 rose 2.5% and the Dow gained 2.1% for their best weekly performances since early August.
## HSBC downgrade
HSBC downgraded Nvidia to hold, believing the stock will languish until the company lays out a permanent succession plan.

> HSBC downgraded the chipmaker to hold, believing that the stock will languish until the company lays out a permanent succession plan
## Interim CEO
Colette Kress, Nvidia's chief financial officer, will lead the company as interim CEO while the board searches for a permanent replacement.

> Nvidia's chief financial officer Colette Kress has been named interim CEO
## Investor concerns
Investors worry about the company's role as a financier of artificial intelligence infrastructure and potential unwinding of financing arrangements.

> What will happen to those types of financing arrangements, and will there be less of them just going forward or will there actually be unwinding of them
## Market reaction to scandal
The market has quickly passed judgement, bidding up shares of chipmakers like Advanced Micro Devices and Broadcom while pushing down neoclouds such as Coreweave and AI server maker Dell Technologies.

> The market has quickly passed judgement, bidding up shares of chipmakers like Advanced Micro Devices and Broadcom while pushing down neoclouds such as Coreweave and AI server maker Dell Technologies
## Market volatility
Baird's Ross Mayfield believes a lot of pain has already been priced into the stock, though he still anticipates volatility ahead.

> Even before all of this came out, and even before the election, chip stocks had been under pressure
## PPI data
The October producer price index rose 0.3% on a month-over-month basis, but increased 6.5% from 12 months earlier.

> The producer price index rose 0.3 percent in October on a month-over-month basis
## Treasury yields
The 10-year Treasury yield rose nearly 4 basis points to 5.14% after October's producer price index data.

> The 10-year Treasury yield remained over 5 percent on Friday after October's producer price index came in slightly less than expected
## Market sentiment
Investors are moving away from companies exposed to the AI infrastructure boom as they seek safety from the Nvidia sell-off.

> Apple has managed to stay away from the costly AI arms race
## Bitcoin drop
Bitcoin traded below $70,000 for the first time since August, falling as low as $67,632.68.

> Bitcoin traded below $70,000 for the first time since August in a risk-off move
## Market reaction to Nvidia
The Nasdaq Composite fell 0.91% to 25,136.27, while the S&P 500 slid 0.4% to 7,561.67.
## Market reaction to Nvidia
The Nasdaq Composite fell 0.91% to 25,136.27, while the S&P 500 slid 0.4% to 7,561.67.
## Market reaction to Nvidia
The Nasdaq Composite fell 0.91% to 25,136.27, while the S&P 500 slid 0.4% to 7,561.67.
## Key takeaway

Nvidia's stock fell 2% Friday after CEO Jensen Huang resigned following reports of extramarital affairs and a Chinese spy relationship, though the Nasdaq still posted a weekly gain.