NVIDIA CEO Huang Resigns, Stock Plummets 14% Temporarily: What Happened at the Heart of AI
In yesterday’s afternoon article, I wrote about the 24.71% rise in stock price due to favorable earnings from CoreWeave. The very next day, a major event occurred at the heart of the AI industry. NVIDIA CEO Jensen Huang resigned, and the stock price plummeted by 14% at one point. Meanwhile, it is reported that orders for the Anthropic IPO have reached approximately six times the number of shares offered. I will organize the information by separating confirmed facts from reports that are still at the news stage.
This article is written based on information as of 10:30 AM on November 13. Since the Tokyo market is currently in session, today’s stock prices have not yet been finalized.
■ CEO Huang Resigns, Ending a 33-Year Era
▶ On November 12 (US time), NVIDIA announced that Chief Executive Officer (CEO) Jensen Huang (63) has resigned as President, CEO, and Director, effective immediately. He was the only CEO to lead the company for 33 years since its co-founding in 1993.
▶ Chief Financial Officer (CFO) Colette Kress (59) has been appointed as interim CEO. She will also continue to serve as CFO. A formal successor for the CEO position is currently being selected from both internal and external candidates. Additionally, the Board of Directors has appointed former Synopsys CEO Harvey C. Jones as the company’s first Chairman of the Board.
▶ The Board of Directors’ announcement did not specify the reason for the resignation. It only stated, “We thank Mr. Huang for his contributions.” Regarding the background of the resignation, it is necessary to distinguish between what is being reported in the media and what the company has announced.
▶ The reported background is as follows: Mr. Huang admitted in an internal email on November 8 to an extramarital affair with Alice Huang, a Chinese businesswoman suspected by US intelligence authorities of having ties to Chinese intelligence agencies, and apologized to his family and employees. Alice Huang is a former executive at the Singaporean data center company MegaSpeed, which is reportedly under investigation by US authorities for allegedly leaking export-restricted semiconductors to China.
▶ Furthermore, The New York Times reported on November 11 that Mr. Huang also had an extramarital affair with Kimberly Powell, the company’s Vice President of Healthcare. On November 8, the Board of Directors began an independent investigation into whether Mr. Huang had been a target of foreign intelligence operations. Jiji Press reported that the Federal Bureau of Investigation (FBI) has also launched an investigation. The Chinese government has denied the espionage allegations. The espionage allegations themselves have not been independently verified.
■ Stock Price Plummets 14% Temporarily, Closing Down 4.34%
▶ NVIDIA’s stock price fell to $148.80 immediately after the opening on November 12. This is approximately 14% lower than the previous day’s closing price of $173.73. It was later bought back, and the closing price was $166.19 (down $7.54, or 4.34%, from the previous day). Trading volume was 734.3 million shares, about five times the three-month average. In after-hours trading, it recovered slightly to around $167.91.
▶ The three major US indices also fell in unison. The S&P 500 was down 0.35% to 7,592.40, the Dow Jones Industrial Average was down 0.36% to 52,297.09, and the Nasdaq Composite was down 0.39% to 25,366.09. However, the decline in the indices was not as significant as the movement of NVIDIA alone.
▶ CoreWeave, which rose 24.71% the previous day, fell to $56.60 (down 6.86% from the previous day) on November 12. At one point, it dropped to $50.17 (down 17.4% from the previous day). As a company that uses a large amount of NVIDIA GPUs, it was directly hit by the news of the resignation.
▶ The impact also spread to the Japanese market. SoftBank Group closed at 3,738 yen (down 117 yen, or 3.04%, from the previous day) on November 12. The Nikkei Stock Average also fell back for the first time in four days to 60,819.36 yen (down 429.22 yen, or 0.70%, from the previous day). It had ended the morning session up 465 yen, but turned to a decline in the afternoon session.
■ Even So, Anthropic IPO Demand Remains at Approximately 6x
▶ Amid the turmoil at NVIDIA, demand for Anthropic’s IPO has not wavered. Bloomberg reported on November 13, citing people familiar with the matter, that orders have reached approximately six times the number of shares offered. Yesterday, it was only reported as “several times,” but a specific multiple has now emerged.
▶ The price range remains at $70 to $78 per share, and no formal decision has been made yet. It has been reported that the underwriting syndicate is considering raising it to over $78, but this is not a finalized decision. Pricing is reported to be on November 18, with the listing scheduled for November 19.
▶ The seven founders plan to sell approximately $250 million worth of shares each in the IPO. This totals approximately $1.75 billion. The Wall Street Journal reports that after the sale, each founder will still retain a stake worth approximately $18 billion.
▶ Taiwan’s semiconductor contract manufacturing giant TSMC has also approved a plan to invest up to $500 million in Anthropic’s IPO shares. They will become a shareholder before the IPO as a core investor alongside companies like Google and AMD.
▶ An online investor event featuring CEO Amodei and JPMorgan Chase CEO Dimon is scheduled for early morning on the 14th (Japan time) / noon on the 13th (US Eastern time). It is expected to be content aimed at individual investors.
▶ In the “Trending” section of note, Anthropic’s model “Opus 5.5” is currently ranked number one. Opus 5.5 is a model released on September 22, and even in the announcement of the top-tier model Fable 5.2 released on November 9, it is advised to “start by using Opus 5.5.” Along with the IPO topic, interest in the model is also rising.
■ What We Can Do
▶ First, let’s separate confirmed facts from reports at the news stage. The resignation itself and the appointment of the interim CEO are confirmed by the company’s announcement.
The reason for the resignation has not been announced by the company, and the extramarital affair and espionage allegations reported as background are at the news stage. The espionage allegations have not been independently verified.
▶ Regarding stock price movements, do not draw conclusions based on a single day. NVIDIA fell to 14% down at one point, but the closing price recovered to 4.34% down. The fact that trading volume swelled to about five times the average shows that both selling and buying were very active throughout the day.
▶ There are three dates to watch. November 17 for NVIDIA’s third-quarter earnings (announced at 1:20 PM Pacific Time, with a conference call at 2:00 PM), November 18 for Anthropic’s IPO pricing, and November 19 for the scheduled listing. The content of the earnings report and how the interim CEO structure is explained will be the next points of focus.
▶ Whether you own AI-related stocks or not, do not judge based solely on the shock of the headlines. The basic approach is to wait and see without panicking after confirming the company’s announcements and earnings figures. This is not investment advice, but is shared as general confirmation points to avoid making hasty decisions.
■ Source
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USA Today: “Jensen Huang resigns as Nvidia CEO amid affair probe” (November 12, 2026)
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https://www.usatoday.com/story/tech/2026/11/12/jensen-huang-nvidia-ceo-resigns-affair-investigation/92734431007/
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The Business Times: “Nvidia CEO Jensen Huang to step down amid affair scandal” (November 12, 2026)
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https://www.businesstimes.com.sg/international/global/nvidia-ceo-jensen-huang-resigns-cfo-colette-kress-take-over-interim?ref=home-grouped-story-2
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Sankei News: “Nvidia’s Huang Resigns; CFO Kress Becomes Interim CEO, Taking Responsibility for ‘Chinese Spy’ and Affair” (November 12, 2026)
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https://www.sankei.com/article/20261112-ETB4YJVMPJMJPDISK7I75WY2GU/?outputType=asynd
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Jiji Press: “CEO Huang Resigns Following Allegations of Infidelity with Chinese Woman – Nvidia USA” (November 13, 2026)
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https://www.jiji.com/jc/article?k=2026111201141&g=int
– The Motley Fool: “Stock Market Today, Nov. 12: Nvidia Shares Slide on Reports of CEO Jensen Huang’s Resignation” (November 12, 2026)
https://www.fool.com/coverage/stock-market-today/2026/11/12/stock-market-today-nov-12-nvidia-shares-slide-on-reports-of-ceo-jensen-huang-s-resignation/
– Investopedia: “Markets News, Nov. 12, 2026: Stock Indexes Tick Lower as Investors Digest News of Nvidia CEO Jensen Huang’s Exit” (November 12, 2026)
https://www.investopedia.com/stock-market-today-dow-jones-s-and-p-500-nasdaq-11122026-12250329
– The Business Times: “Anthropic’s potential record IPO draws orders for six times the shares available” (November 13, 2026)
– Channel News Asia: “Anthropic’s IPO is about six times oversubscribed, Bloomberg News reports” (November 13, 2026)
– The Wall Street Journal “Anthropic Founders’ Stakes Are Worth $18 Billion Apiece at IPO Price” (November 2026)
– The Wall Street Journal “TSMC Approves Up to $1 Billion Investment Plan in Anthropic, OpenAI” (November 2026)
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stockanalysis.com “CoreWeave, Inc. (CRWV) Stock Price History”
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https://stockanalysis.com/stocks/crwv/history/
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Stock Investment Introduction for Beginners “How Will SoftBank Group (9984) Stock Move?” (November 12, 2026)
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https://kabu-shodou.net/stock/9984
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Japan Market Report November 13, 2026 | Hiroki Miyano (note)
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https://note.com/hirokimiyano/n/n1692a29b79ac
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ai-garage “Claude Opus 5.5 Arrives! Comparable to Fable 5.1 at 40% Less Cost than Opus 5”
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https://ai-garage.jp/news/claude-opus-5-5-launch/
#NVIDIA #NVIDIA #Anthropic #IPO #CoreWeave #Opus5 .5