Nvidia Stock Trends After Hours As Colette Kress Vows To Build On ‘Foundation’ Laid By Ousted CEO Jensen Huang

Nvidia Corp. (NASDAQ:NVDA) shares are trending on Thursday night.

Shares of the Californian developer of AI and graphics chips edged 0.99% higher to $167.84 in after-hours trading on Thursday after the company announced CEO Jensen Huang’s resignation, effective immediately.

The stock had closed the regular session at $166.19, down $7.54, or 4.34%.

Colette Kress Named Interim CEO as Board Starts Search

CFO Colette Kress will serve as interim CEO while remaining CFO until a permanent successor is named, NVIDIA said. The board will consider internal and external candidates. Kress joined NVIDIA in 2013.

Harvey C. Jones, a former Synopsys (NASDAQ:SNPS) CEO, became the board’s first-ever chair. He said the board expects operations and the product roadmap "to continue without interruption."

Kress said she is committed to building on the "extraordinary foundation" Huang created over 33 years.

Huang Exit Follows Widening Affair Scandal

Huang’s resignation came as his extramarital affair scandal widened. On Thursday, Reuters, citing sources, reported that Huang had an intimate relationship with a second company employee. Reuters did not name her.

The latest follows Huang admitting to an affair on Sunday with Alice Huang, an executive at Singapore-based Megaspeed. U.S. intelligence officials reportedly believe she is a Chinese spy.

Huang also had an intimate relationship with Kimberly Powell, Nvidia’s vice president of health care.

Before the resignation, Dan Ives, a partner at Yorkville Ives, said that Huang is a "central nervous system" for broader tech, not just NVIDIA. He called Huang "actually irreplaceable" and said NVIDIA has no succession plan.

Analyst Sees NVDA Buying Opportunity Amid Turmoil

Amid all the turmoil, Nancy Tengler of Laffer Tengler Investments believes NVDA is cheaper than investors realize. "We will be buying Nvidia stock," she said in comments shared with Benzinga.

She argues investors may be overlooking the opportunity at current valuations, despite concerns ahead of next week’s earnings report.

NVIDIA is expected to report its third-quarter fiscal 2027 results on Nov. 17, at about 1:20 p.m. PT, as previously scheduled. Its earnings call follows at 2 p.m. PT. It will be the first report since Huang’s exit.

Trading Metrics, Technical Analysis

NVIDIA has a market capitalization of $4.01 trillion. Over the past 52 weeks, its stock has traded between a high of $243.37 and a low of $148.80.

The Relative Strength Index (RSI) of NVDA stands at 25.99.

The tech stock has fallen 14.25% over the past year, including a 12.89% decline in the last five trading days.

Price Action: On Thursday, NVDA closed at $166.19, down 4.34%, according to Benzinga Pro data.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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