- Jensen Huang resigned immediately as Nvidia’s president, chief executive and director.
- CFO Colette Kress became interim CEO while continuing to lead Nvidia’s finance function.
- Chip stocks retreated Friday, but AMD, Broadcom and Marvell still posted double-digit weekly gains.
Nvidia Begins CEO Succession Process
Nvidia announced Thursday that Jensen Huang had resigned as president, chief executive and a director, effective immediately. Chief Financial Officer Colette Kress was appointed interim CEO and will retain her finance role while Nvidia’s board searches for a permanent successor.
The board moved to reassure customers and investors that the leadership change would not disrupt the company’s business. Nvidia Chair Harvey C. Jones said the board expected the company’s operations, customer commitments and product roadmap to continue without interruption.
Nvidia said it would release its third-quarter fiscal 2027 results on Tuesday, Nov. 17, as previously scheduled. The earnings report will therefore arrive as the company manages the immediate transition and begins its search for a permanent chief executive.
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Chip Rally Pulls Back After Strong Weekly Gains
Semiconductor stocks retreated Friday, although the decline did not erase the sector’s gains earlier in the week. Through Thursday, AMD had risen 30.3% from the previous Friday’s close, while Nvidia had fallen 11.0%. AMD, Broadcom and Marvell each ended the week with double-digit gains despite Friday’s pullback.
The declines on Friday were also larger than the broader market’s move. The S&P 500 fell 0.4%, while the SOXX semiconductor exchange-traded fund provided a sector comparison because its stated objective is to track a U.S. semiconductor-stock index.
Frontier calculations based on split-adjusted Yahoo Finance closing prices covered regular trading sessions only and excluded dividends and after-hours trading. The comparison used selected stocks and the sector ETF rather than an exhaustive survey of chip companies. The stated periods were Nov. 6–12, 2026, through Thursday; Nov. 12–13 for Friday; and Nov. 6–13 for the full week.
AMD’s Position in the AI Chip Market
AMD sells Instinct graphics processing units used to train and run artificial intelligence models. Its weekly advance, alongside gains for Broadcom and Marvell, highlighted the contrast between the performance of several semiconductor companies and Nvidia during the period covered by the market comparison.
The price comparisons establish relative performance and do not identify the cause of Friday’s selling. They show that the retreat affected the selected chip stocks and the wider market differently, while leaving the broader weekly gains for several major semiconductor names intact.
Why This Matters
Nvidia’s immediate leadership transition places continuity at the center of attention for customers, investors and the semiconductor industry. The company has said its operations, customer commitments and product roadmap will continue without interruption, and its previously scheduled fiscal 2027 results remain the next major public update.
The market data also underscores the importance of separating a single-session decline from full-week performance. Although chip stocks pulled back Friday and Nvidia recorded a weekly loss through the stated comparison period, AMD, Broadcom and Marvell finished the week with double-digit gains.
Frequently Asked Questions
Who is Nvidia’s interim CEO?
Colette Kress, Nvidia’s chief financial officer, became interim CEO while continuing to serve as CFO.
Why did Jensen Huang leave Nvidia’s leadership?
The source states that Jensen Huang resigned as Nvidia’s president, chief executive and a director, effective immediately. It does not provide a reason for his resignation.
When will Nvidia report its next results?
Nvidia said it will report third-quarter fiscal 2027 results on Tuesday, Nov. 17, as previously scheduled.
