Jensen Huang resignation claim spreads on X, but no departure has been confirmed
Nvidia shares fell as much as 8.6% in after-hours trading on reports that Jensen Huang was stepping down from his roles as CEO, president and board member, with his departure taking immediate effect.
Nvidia's finance chief, Colette Kress, will serve as interim CEO while the board considers internal and external candidates for the permanent role.
The chipmaker tapped Kress, its executive vice president and chief financial officer, to lead the company during the leadership transition.
Bloomberg reported that Nvidia's board had been working with an outside search firm to identify potential successors to Jensen Huang, and that some directors favored Kress for the interim role.
Market reaction
Nvidia shares closed Wednesday at $173.73, up 2.9%, but fell as much as 8.6% in after-hours trading on reports that the board was preparing to oust Huang.
The stock extended its decline into Thursday, dropping another 7.8% in overnight trading to around $160, per Yahoo Finance.
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