TLDR
- Nvidia stock is up 1.8% at $169.20 in premarket trading Friday.
- It fell 4.3% Thursday after Jensen Huang resigned as CEO.
- Colette Kress is interim CEO, and no permanent successor is named.
- Earnings arrive Tuesday, with the stock under 12 times estimated earnings.
- Huang has reportedly agreed to testify before Congress.
Nvidia (NVDA) stock is up 1.8% at $169.20 in premarket trading Friday. That follows a 4.3% drop on Thursday, the day Jensen Huang resigned as CEO.
It was a wild ride. The stock fell sharply during the session, then clawed back some ground to close just over 4% lower at $166.19.
Huang had been the only CEO the company has ever had. He stepped down after The New York Times reported that he had a romantic relationship with Kimberly Powell, Nvidia’s vice president of health care.
Reuters then reported a second affair with an Nvidia employee, whom it did not name. Nvidia did not immediately respond to a request for comment.
BREAKING: Jensen Huang reportedly had an “intimate relationship” with a second Nvidia, $NVDA, employee, per Reuters.
This marks the third alleged affair for the now-former Nvidia CEO.
— The Kobeissi Letter (@KobeissiLetter) November 12, 2026
The board had already been looking into Huang’s relationship with a businesswoman. Intelligence agencies say she is a Chinese spy.
Finance chief Colette Kress is now serving as interim CEO. No permanent successor has been named.
Earnings Test Arrives Tuesday
Nvidia reports earnings on Tuesday, the first big check on investor mood since the news. The company’s forecast calls for 70% revenue growth in fiscal 2028.
Barron’s has backed the stock to bounce back from its recent slump. It trades at less than 12 times estimated earnings for the next 12 months.
The stock is already down more than 20% over the past month. Before Huang resigned, several Wall Street analysts told CNBC his exit could cost Nvidia as much as 20% of its market value.
More stock buybacks are also possible if the price stays near these levels. Repeating the revenue outlook on Tuesday could help steady confidence.
Who Could Replace Huang
Early speculation has centered on Ian Buck, Nvidia’s vice president of hyperscale and high-performance computing. Arm Holdings (ARM) CEO Rene Haas has also come up.
Arm stock was down 1.8% in the latest session. Names from outside the company are also expected to surface in the coming weeks.
Kress is seen as a stopgap for a company that needs technical leadership. Stephane Houri of ODDO BHF said much of Nvidia’s success was built around Huang.
Houri said the AI industry’s architecture depended heavily on Huang’s vision and expertise. Washington is the other thing to watch.
Huang has reportedly agreed to testify before Congress about his relationship with the suspected spy. Lawmakers want to know whether any intellectual property or advanced hardware moved to China.
Huang remains a major shareholder, so his testimony could move the stock. Hendi Susanto of Gabelli Funds said the next step may depend on what investigators find and how much scrutiny comes from Washington.
As of 6:52 a.m. ET Friday, Nvidia stock was quoted at $169.96, up 2.3%.
