Nvidia CEO Resigns: Stock Drops, Rivals Rise

bjnews.com.cn (Chinese) —

Nvidia CEO Jensen Huang resigned on November 12, with Colette Kress named interim CEO, following an independent investigation launched November 8. Nvidia's stock fell 10.96% over four trading days, erasing over $480 billion in market value. Huang co-founded Nvidia in 1993, leading it to become a dominant AI chip supplier. Data center revenue now accounts for 92.5% of total revenue. Nvidia has made $279 billion in purchase commitments and $25 billion in investment pledges, while also securing $36 billion in cloud service agreements. Competitors AMD, Broadcom, and Arista Networks saw stock gains on November 12. Major customers like Google, Amazon, and Microsoft are developing their own AI chips. In China, Nvidia's market share fell to 34% in early 2026 from 55% in 2025, with Huawei Ascend close behind at 28%.


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