Nvidia shares plunged more than 13% at Thursday’s open after the company announced Jensen Huang’s resignation, dropping the chipmaker below a $4 trillion market capitalization and putting the session on pace for its worst day since January 2025, CNBC reported.
The network said Nvidia has lost more than $740 billion in market value since Friday’s close. Shares closed Wednesday at $173.73, down from a closing high of $239.24 on Oct. 6, a decline CNBC put at $2 trillion in market value from that early-October peak. As of Wednesday’s close, the shares were down about 7% this year, the steepest slide among technology megacap peers other than Tesla, and the selloff had left Nvidia behind Apple among the world’s largest companies, CNBC reported. The Guardian later said the stock was down 7% in morning trading after a partial rebound, a decline it estimated at more than $320 billion on the day and more than $600 billion for the week, valuing the company at about $3.9 trillion. Those snapshots were taken at different times and are attributed to each outlet.
CNBC also reported that several other chip and AI-infrastructure names traded lower, including Intel and Marvell, each down more than 4%, and that retail traders were large buyers of Nvidia at the open. This market story is a companion to the company’s official announcement of Huang’s resignation and the appointment of Colette Kress as interim CEO; it is not a prediction of the close.