Nvidia's CEO resigns over scandals; analysts see AI demand intact

Nvidia has lost over $1.2 trillion in market value after CEO Jensen Huang resigned following reports of two affairs, including one allegedly involving a Chinese spy. Shares fell about 25% to near 52-week lows, dropping the company's valuation below $4 trillion. Huang confirmed the first affair in an Oct. 29 memo, and a second alleged relationship with Nvidia vice president Kimberly Powell emerged Nov. 11. The board appointed CFO Colette Kress as interim CEO and Harvey Jones as the company's first board chair. Analysts cite leadership uncertainty and lack of a clear succession plan as key concerns, though corporate fundamentals remain unchanged. Investors are now focused on Nvidia's earnings report due Nov. 17, which analysts call the most important in company history. While short-term volatility is expected, analysts say the AI investment cycle remains intact, with customers unlikely to abandon orders and the broader technology sector continuing to build AI infrastructure.