NVIDIA (NVDA) shares recorded their worst weekly performance in more than 18 months, as the chip giant remained under pressure following Jensen Huang's departure. NVIDIA (NVDA) fell 2% on Friday to close at $162.85, bringing its cumulative decline over the past five trading sessions to 13%, the largest weekly drop since April 2025, when U.S. President Donald Trump announced plans for broad tariffs that sent shockwaves through global markets.
This also marked the sixth consecutive weekly decline for NVIDIA (NVDA), the longest losing streak since 2012. NVIDIA (NVDA) shed more than $570 billion in market value this week, a loss that exceeds the individual market capitalization of 96% of S&P 500 constituents.
The world's most valuable chipmaker has been under pressure since its stock hit a record high in early October. Even before investors learned of the scandal that led to Jensen Huang's ouster, the market was already concerned about the sustainability of AI infrastructure spending. Those worries intensified further after the U.S. midterm elections, as some newly elected leaders vowed to curb the rapid expansion of data centers.
Selling pressure accelerated this week after Jensen Huang admitted to an extramarital affair, and it later emerged that he had an intimate relationship with a subordinate. The NVIDIA (NVDA) board announced Huang's resignation on Thursday and appointed Chief Financial Officer Colette Kress as interim CEO. NVIDIA (NVDA) is scheduled to report quarterly results on Tuesday, November 17.
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