Key Highlights

  • Nvidia (NASDAQ:NVDA) traded about 11.93% lower at USD 153.00 pre-market on Thursday, November 12, 2026, against a November 11 close of USD 173.73, while other reports described a drop of roughly 9% to 12%.
  • Co-founder Jensen Huang quit as President, CEO and director with immediate effect; CFO Colette Kress steps in as interim chief executive, and Harvey C. Jones becomes the first person to chair the board.
  • A strategist pegged Fair Value at USD 300 if Huang stays and USD 225 if he leaves, Bernstein lowered its target from USD 400 to USD 200, and Citi trimmed USD 285 to USD 225.
  • Nvidia reports fiscal 2027 third-quarter results on November 17, 2026, the next scheduled event for a Business Huang co-founded in April 1993, some 33 years ago, with Leadership questions still unresolved.

A Founder Premium Collides With a Software Moat

Before the open on Thursday, Nvidia (NASDAQ:NVDA) said Jensen Huang had resigned, and published market data showed the shares at USD 153.00, lower by USD 20.73. The announcement offered no explanation, and commentators likened the departure to Steve Jobs leaving Apple. Reported coverage also linked the sell-off to an independent probe that directors launched on November 8 after reports of an effort by a foreign intelligence service. The company has not confirmed a breach of any kind, and directors stated they saw no basis for concluding that American national security or Trade secrets had been put at risk. Huang built the company from a graphics chip designer into the leading supplier of AI processors, leaving investors to ask how much of the price rested on the man.

Why CUDA, Customers and Demand Could Outlast One CEO

A chief Investment officer at a brokerage argued that the market may be mixing up the worth of Huang with the worth of the company. On that reading, the CUDA software ecosystem, long-standing customer ties and demand for AI infrastructure all stay in place through a change at the top, and the next chief executive's Job is to build the next business instead of guarding the last one. That view is an outside opinion as reported, and the company has not said it. The release quotes no customer or partner, and no verified customer reaction was found at the time of writing.

Where the Founder Argument Still Carries Weight

The opposing view centres on execution. KeyBanc downgraded Nvidia to Sector Weight from Overweight, arguing that a potential ouster of Huang meaningfully lifts the strategic, organizational and execution risk profile. Bernstein shifted to Market Perform, and another firm lowered its target from USD 315 to USD 185, which sits roughly 6% over the prior-day level, a figure calculated here from two published prices. The board has named neither a timetable nor a search firm for a permanent CEO, and the release says nothing about any continuing role for Huang. Peers diverged pre-market, as reported: Advanced Micro Devices (NASDAQ:AMD) rose about 3.9%. Broadcom (NASDAQ:AVGO) added about 3%. CoreWeave (NASDAQ:CRWV) slid about 7.2%.

Where Things Stand

It is too soon to judge. Nvidia (NASDAQ:NVDA) keeps the CUDA ecosystem, its customer relationships and strong AI infrastructure demand, Assets a strategist believes endure a leadership change, yet the market is applying a real discount for founder risk, which that strategist places near USD 75 a share. Clarity on leadership is lacking: Kress is interim CEO, and no permanent successor or timetable has been given. The pre-market move is an early indication, not a settled close. The next marker on the calendar is the November 17 Earnings release.