Nvidia loses $1 trillion after CEO Jensen Huang resigns
Nvidia shares plunged 14% at Thursday's market open after CEO Jensen Huang announced his resignation, triggering a broader tech selloff across US and international markets. The company has lost over $1 trillion in market capitalization this month. CFO Colette Kress was appointed interim CEO by the board. The leadership change raised investor concerns about the company's future direction, with S&P 500 and Nasdaq indexes fluctuating and Nvidia partners CoreWeave and Nebius falling over 6% and 17% respectively. Competitors AMD and Broadcom gained nearly 3% and over 4%. Nvidia's graphics processors are essential for AI model training, and demand remains high despite the stock decline, with analysts projecting annual profits exceeding $200 billion. Former President Donald Trump suggested Tim Cook could lead the company, while TSMC shares fell nearly 2% and Samsung rose 1%.