Key takeaways

• Nvidia’s board accepted Jensen Huang’s resignation as president, chief executive and a director on Nov. 11, effective immediately, and named Chief Financial Officer Colette Kress as interim CEO.
• Nvidia shares closed down 4.3% on Thursday after falling more than 13% at the open, according to CNBC.
• Bitcoin traded as low as $71,200 on Thursday, The Block reported, and fell further below $70,000 on Friday.

Nvidia’s board accepted Jensen Huang’s resignation as president, chief executive and a director on Nov. 11 and named Chief Financial Officer Colette Kress interim CEO, the company said on Nov. 12. Shares closed down 4.3%, according to CNBC, as bitcoin also fell.

In an official announcement, Nvidia said Kress, its executive vice president and chief financial officer since 2013, will keep those roles while she serves as interim chief executive. The board said it has begun a search for a permanent successor and will consider both internal and external candidates.

The board also appointed longtime director Harvey C. Jones as its first chair. An SEC filing dated Nov. 12 said Jones, 73, has served on the board since 1993 and is managing partner of Square Wave Ventures. The filing said the board accepted the resignation of Jen-Hsun Huang, Huang’s legal name, effective immediately.

“Colette has helped lead NVIDIA through a period of extraordinary growth and has a deep understanding of our business, customers, operations and financial position,” Jones said in the company’s statement. He added that the board has “full confidence in Colette and the leadership team” and expects operations, customer commitments and the product roadmap “to continue without interruption.”

“NVIDIA’s strength has always come from its people, and together with our leadership team, I am committed to building on the extraordinary foundation Jensen created over the last 33 years,” Kress said. She said the company would keep serving its customers, partners, developers and shareholders.

Nvidia’s announcement and its filing did not give a reason for the resignation. Reuters and The Associated Press reported that Huang stepped down after revelations of extramarital affairs, including one involving a woman U.S. authorities suspect of spying for China.

Shares Slide, and Crypto Follows

CNBC said Nvidia shares plunged more than 13% at the open on Thursday, hitting a 52-week low early in the session, before finishing 4.3% lower. The network said the stock had been on track to close below a $4 trillion market value for the first time since July 2025, then rose just above that mark into the close.

Reuters reported the same 4.3% decline at the close, with a 1% bounce in after-hours trading, and said shares of rivals Advanced Micro Devices and Broadcom each rose about 6%.

Bitcoin fell to as low as $71,200 on Thursday, its weakest level in nearly 12 weeks, and was down 3.4% at $71,600 when The Block published. Ether, Solana and XRP each declined more than 3.5% over 24 hours. More than $750 million in crypto positions were liquidated, including over $634 million in long positions, according to CoinGlass data cited by The Block.

The selling continued into Friday, when bitcoin fell below $70,000 and liquidations reached $1.47 billion, CoinReporter reported, with Nvidia’s leadership change cited among the pressures on the market. A hotter-than-expected October inflation reading earlier in the week had already raised bets on a larger Federal Reserve rate increase in December.

Nvidia said it will report fiscal third-quarter 2027 results on Tuesday, Nov. 17, as previously scheduled, followed by an earnings call. The company did not give a timetable for naming a permanent chief executive.