Nvidia Shares Drop 35% Following Resignation of CEO Jensen Huang
Nvidia (NVDA) shares experienced a significant decline, falling approximately 35% from its October record high to trade near $156 following the announcement that CEO Jensen Huang has resigned. The company has appointed Chief Financial Officer Colette Kress as interim CEO to lead during this transition. Despite the leadership change and subsequent stock volatility, Nvidia's underlying financial performance remains robust. The company reported a 106% year-over-year revenue increase in its most recent quarter, driven largely by massive demand in the data center sector. Management continues to project approximately 70% revenue growth for the upcoming fiscal year.
Tickers: $NVDA
Topics: Artificial Intelligence CEO Resignation Nvidia Stock Price Volatility