NVIDIA (NVDA) Falls 8.56% After Hours as Board Weighs Ousting CEO Jensen Huang

Board Weighs Ousting CEO Jensen Huang

NVIDIA (NVDA) shares dropped 8.56% in after-hours trading on Wednesday, November 11, after a report said the chipmaker's board is preparing to remove chief executive Jensen Huang from his post. According to the Wall Street Journal, Huang had an affair with Kimberly Powell, the company vice president who leads NVIDIA's healthcare business, and the board could convene on his future as soon as that same day. Powell reports directly to Huang, which moves the matter beyond his personal life and into corporate governance and the management of senior executives. Her remit covers medical AI, medical imaging and the computing work tied to them, and the report noted that the two were photographed during an NVIDIA event in San Jose, California, in March 2026. It is the second accusation of its kind in a matter of weeks: the first involved Alice Huang, an executive at Singapore data center operator Megaspeed, whom United States intelligence agencies have suspected of involvement in Chinese intelligence activity. NVIDIA has not publicly confirmed that a board meeting is scheduled, and no decision has been announced. The pressure had been building on the stock well before this report: NVDA lost roughly 23% of its value over the past month, even as the broader market rallied on November 11. In the regular session the chipmaker closed 2.92% higher alongside a semiconductor rebound, with the Dow up 0.49%, the S&P 500 up 1.31% and the Nasdaq up 1.6%. Extended-hours trading sees trading volume run thinner than in the day session, which tends to exaggerate sharp moves, and Huang's 33-year run at the company has never before faced a challenge this direct. Traders began moving money toward rival chip names in extended trading as the news spread.

Polymarket Puts 88% on a Huang Exit

Prediction market Polymarket now prices an 88% probability that Huang leaves NVIDIA before the end of the year, with internal data center chief Ian Buck drawing the heaviest backing as successor. Buck has been at the company for about 22 years and helped build the CUDA computing platform in its early days before taking over the accelerated computing and data center businesses that now generate most of NVIDIA's revenue. Chief financial officer Colette Kress, in the role since 2013 after earlier finance posts at Cisco and Microsoft, is seen as the likeliest transitional leader if Huang departs abruptly, though analyst Gil Luria questions whether she has the semiconductor engineering background for a long-term technical agenda. Madison Huang, the chief executive's daughter and senior director of physical AI product marketing, has expanded her footprint across business units, but Jensen Huang has said he does not want his children handed the top job. According to Business Insider, the company has never designated a clear number two: Huang runs a flat structure in which roughly 60 executives report directly to him, which has left the NVIDIA board without an obvious succession bench, and co-founder Chris Malachowsky could also play a role in any handover. External names circulate as well: AMD chief executive Lisa Su, a distant relative of Huang, Arm chief Rene Haas, who spent about seven years at NVIDIA earlier in his career, and former Google chief Eric Schmidt and Apple's Tim Cook, both floated by Yale governance professor Jeffrey Sonnenfeld. The rotation out of NVIDIA hit rival chips the same evening. AMD jumped 7.32% in the regular session and added 4.32% more after hours, helped by Google's adoption of its fifth-generation EPYC processors in the TPU 8tx AI computing systems, while Broadcom rose 3.99% and kept climbing in extended trading. SanDisk, further out on the semiconductor board, surged 13.69% on dip-buying after an oversold stretch before easing 2.65% after the bell.

NVDA at $160.48 After the Drop

Against that backdrop, COINOTAG data shows the stock last at $160.48, down 7.23% over 24 hours, after a session range of $153.71 to $178.61. The daily trend reads as a downtrend, the 14-day RSI sits at 21.1, deep in oversold territory, and the MACD signal is bearish. The strongest scored support is $151.91, rated 77 out of 100, just under the session low, while the strongest resistance is $172.74, also scored 77 out of 100. Funding on the stock's perpetual market printed 0.0631% per interval, with open interest near $433 million. A daily close below $151.91 would strip the chart of its top-rated floor, and reclaiming $172.74 is the move that would change the picture.