Business · India Bureau
Nvidia shares tumble as Jensen Huang steps down as CEO
Nvidia's stock price plummeted following an announced leadership change at the AI chipmaker. Chief Financial Officer Colette Kress has been elevated to lead the company as Huang transitions to a new role.
LSN India ·
Nvidia shares experienced significant volatility on news of a major executive reshuffle at the semiconductor giant. The stock opened down more than 13 per cent before recovering somewhat to trade 7.1 per cent lower as markets absorbed the leadership transition announcement.
Jensen Huang, who founded the company in 1993 and has led Nvidia through its transformation into a cornerstone of artificial intelligence infrastructure, has stepped down as Chief Executive Officer. Chief Financial Officer Colette Kress has been promoted to the top position, marking a significant leadership change at one of the world's most valuable technology companies.
The transition had been anticipated by market observers tracking the company's strategic direction. Huang will assume a new executive role as the company continues to navigate rapid growth in AI-driven demand for its graphics processing units and data centre products.
Investors are closely monitoring how the leadership change will affect Nvidia's trajectory amid intense competition in the artificial intelligence semiconductor market. The company's valuation and share performance have made it a bellwether for global tech sector sentiment.