Nvidia CEO Huang Resigns as Shares Slide Over 4%; AMD Rises Nearly 6%

Nvidia CEO Jensen Huang resigned as CEO, director and president, while the CFO became interim CEO. The company appointed a board chair for the first time and began a CEO search among internal and external candidates. Nvidia shares fell more than 4% at the close after dropping as much as 14% intraday, while rival AMD gained nearly 6%. Reports also said Nvidia faces a U.S. Department of Justice antitrust investigation. The market focus now centers on the leadership search, regulatory scrutiny and whether enterprise AI cloud revenue can convert high AI capital spending into returns. Elsewhere in AI, Nebius raised its capital-expenditure guidance to $27 billion but shares fell 17% after delaying its $7 billion ARR target; Anthropic’s IPO was reportedly about six times oversubscribed, while OpenAI’s reported new funding reached $15 billion versus an initial $30 billion target.