Nvidia shares tumble as founder Jensen Huang steps down as CEO

Nvidia shares experienced a significant decline in trading after the chipmaker announced that Jensen Huang, who co-founded the company in 1993, has stepped down from his role as chief executive officer. The market reaction underscored investor concerns about leadership changes at one of the world's most valuable semiconductor companies. Huang, who has been instrumental in Nvidia's rise to dominance in artificial intelligence and graphics processing, had led the company through its explosive growth in recent years. The company's board of directors confirmed Huang's resignation and moved swiftly to name Colette Kress, the company's Chief Financial Officer, as interim chief executive. Kress has served as CFO since 2013 and is credited with overseeing Nvidia's financial strategy during a period of unprecedented expansion. The board did not immediately provide details about the circumstances surrounding Huang's departure or a timeline for appointing a permanent CEO. Nvidia has become one of the most influential technology companies globally, with its processors powering much of the artificial intelligence infrastructure that has driven the recent generative AI boom across industries.