Following Jensen Huang’s resignation, Nvidia shares fall while those of other chipmakers soar
Following co-founder Jensen Huang’s resignation, Nvidia’s stock fell sharply on Thursday. As a result, the market capitalization of the once-most valuable business in the world briefly dropped below that of Microsoft. But it still trailed Apple and the $5 trillion mark.
Before the stock stabilized at an 8% fall by 10:10 a.m. EST, putting its market value just below Microsoft’s at $3.86 trillion, Nvidia opened down more than 11% on Thursday morning. Pushing its market capitalization below $4 trillion—and below Microsoft’s $3.9 trillion.
As of 10:10 a.m. EST, Nvidia’s competitors Advanced Micro Devices, Broadcom, and Qualcomm had increased by 1.3%, 4.4%, and 1%, respectively, during the first 30 minutes of trading, while Intel had decreased by 4%.
Before the market opened, Huang’s departure was announced by Nvidia’s board of directors. This came after an investigation into his admitted romance with a suspected Chinese spy had begun.
Only hours after a fresh story surfaced suggesting that Huang had also had an adulterous affair with a senior Nvidia official, the board reportedly met on Wednesday nite and was getting ready to remove Huang.
Nvidia had been the most valuable business in the world since June 2025, with a few recent losses. However, earlier this month, amid a drop in AI-related equities, Apple, which currently holds the top rank, started to overtake Nvidia.
Net worth ranking
As of 11:00 a.m. EST, Huang’s net worth had decreased by $7.4 billion, ranking him 13th on Forbes’ Real-Time Billionaires List at an estimated $143.8 billion. He was no longer among the top ten richest individuals in the world on Tuesday as shares kept falling after it was revealed that Nvidia was the subject of an inquiry.
His wealth fell by $7.4 billion on Monday and an additional $8.4 billion on Tuesday before somewhat increasing on Wednesday with a $5.9 billion gain that has since been erased. He is currently the largest daily loser among all billionaires worldwide, according to the Forbes ranking.
