Leather jackets, GPUs, and a $T empire: Jensen Huang’s Nvidia story

Nvidia (NVDA) stock dropped 13% after CEO Jensen Huang's resignation. Experts debate the company's future without its visionary leader, drawing parallels to Apple's (AAPL) transition. Some see buying opportunities amid market jitters, while concerns linger about AI data center spending and earnings growth.

NVIDIA (NVDA) shares fell 7% to $161 after CEO Jensen Huang resigned. The S&P 500 (SPY) dropped 0.3%, with tech leading declines. The Russell 2000 (IWM) fell 1.2%, and the 10-year Treasury yield rose to 5%. NVIDIA's large weighting in SPY contributed significantly to the index's decline.

Nvidia's stock dropped 7% after CEO Jensen Huang resigned amid scrutiny over personal conduct. Colette Kress, the CFO, will serve as interim CEO. The company's market cap is $3.88 trillion, and shares are down 15% year-to-date. Nvidia will report Q3 results on Nov. 17.

Needham maintained its Buy rating on NVIDIA but reduced its price target to $200 from $300, citing a 33.3% decrease. This implies a 15.1% upside from the Nov 11 close of $173.73. Recent analyst notes on NVIDIA have set price targets ranging from $205 to $230.

Nvidia's (NVDA) CEO Jensen Huang resigned after reports of affairs, with CFO Colette Kress taking interim role. NVDA stock fell to a 1-year low, impacting AI-related firms like Nebius (NBIS) and CoreWeave (CRWV). Nvidia has $530B in commitments, including $10B to Anthropic and $100B to OpenAI. Slow customer payments and a shrinking portfolio add pressure.

U.S. equities saw slight declines on Thursday, with Nvidia shares under pressure following CEO Jensen Huang's resignation. The Dow was up 0.1%, the S&P 500 up 0.3%, and the Nasdaq down 0.5%.