Nvidia shares plunge 10% to June 2025 levels as Jensen Huang resigns

Nvidia CEO Huang quits company he co-founded, led for 3 decades. Shares slump

CFO Colette Kress takes over as interim CEO after Huang steps down immediately as president, chief executive and board member, as shares tumble.

Nvidia shares fell as much as 14% after Jensen Huang resigned as president, chief executive and a board member, effective immediately.

CFO Colette Kress will serve as interim chief executive, raising questions about succession and strategic continuity at a leading supplier of artificial intelligence chips.

Shares of bitcoin miners expanding into AI data centers also declined.

NvidiaNVDA$165.80 fell as much as 14% on Thursday after Jensen Huang resigned as president, chief executive and board member with immediate effect.

The resignation follows reports of Huang having a second extramarital affair, with an employee. He had already admitted to an affair with a woman identified by U.S. intelligence agencies as a Chinese spy.

While Chief Financial Officer Colette Kress was named as interim CEO, the departure of Huang, who co-founded the company in 1993, marks a major leadership change for the chipmaker, whose processors underpin much of the artificial intelligence industry.

Investors now face uncertainty over succession, strategic continuity and the implications for confidence across the broader AI sector, which often acts as a proxy for the cryptocurrency market.

The shares dropped to as low as $148.80 and were recently trading around $165, around 5% lower than its previous close. The broader stock market had already experienced downward pressure on speculation that Huang’s position was hanging in the balance, with Nasdaq 100 index futures and S&P 500 index futures dropping before the start of regular trading.

Grayscale opens in-kind crypto ETF investing to more investors

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Shares in bitcoin mining companies-turned AI data center firms sank following the announcement, with Cipher DigitalCIFR$7.0500, IRENIREN$19.60 and TerawulfWULF$13.40 dropping 5%-10%.

Bitcoin BTC$73,512.58 showed little initial reaction to the news, continuing to trade just under $72,500, 1.7% lower over 24 hours. The largest cryptocurrency subsequently dropped toward $71,000 following bearish inflationary comments from Cleveland Fed President Beth Hammack, who called for a more restrictive policy from the U.S. central bank.

UPDATE (Nov. 12, 15:39 UTC):Rewrites headline.

Crypto Daybook Americas - The latest moves in crypto markets, in context

Market analysis for crypto traders and investors.

Artificial Intelligence

Bitcoin$73,512.58 0.20%

Nvidia$165.80 -4.56%Cipher Digital Inc. Common Stock$7.0500 -0.91%IREN Limited Ordinary Shares$19.60 -5.93%

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Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.

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Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.

Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.

#### Bitcoin dips with Nvidia as ETF outflows reach day five #### Canaan may sell more bitcoin for stock buybacks as mining-rig revenue falls 96% #### MSCI is dropping Strategy from its index, and the exclusion could hit its bitcoin-buying machine

#### DTCC adds Solana to Wall Street tokenization plans, targeting 2027 rollout #### Jupiter adds Anchorage-backed USDGO to its $1 billion Solana lending platform #### The next Congress will write rules for AI and emerging tech. They should use the stuff first.

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