Jensen Huang announced his immediate resignation as the head of Nvidia on Thursday, November 12, ending his tenure at the company he co-founded in 1993. Chief financial officer Colette Kress will serve as interim chief executive until a permanent successor is appointed, while Harvey C. Jones becomes the company’s first chair of the board. Nvidia shares fell 13% in early trading, contributing to declines of 1.49% for the Nasdaq Composite, 0.78% for the S&P 500 and 0.13% for the Dow Jones. The sell-off spread to semiconductor and specialized cloud stocks, with Marvell Technology down 3.4% and CoreWeave down 7.3%, as Nvidia prepares to release its earnings on Tuesday, November 17.
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