Updated 12 November 2026, 07:30 GMT, before the US market open. Nvidia (NVDA) closed Wednesday at $173.73, up 2.92 percent, then fell about 8.6 percent to roughly $159 in after-hours trading after The Wall Street Journal reported that the board was preparing to remove chief executive Jensen Huang (Forbes; Al Jazeera). Verdict: no decision had been announced at the time of writing, and results are due on 17 November. Until the board speaks, the stock trades on the headline, not on the business. Reference levels: $187 above, $145 below.
Key facts
- Wednesday close: $173.73, up 2.92 percent, after a rebound led by CoreWeave’s results. Tuesday’s close was $168.89.
- After hours: down 8.6 percent to $158.78 as of 8 p.m. Eastern time, according to Forbes. Bloomberg had the stock down 9 percent at 5:30 p.m. in New York. Earlier extended-hours quotes were near $160.69.
- The report: the WSJ said the board was preparing to remove Huang and could meet as soon as Wednesday. Reuters reported that directors met late Wednesday to decide his future. Nvidia had not commented publicly on the meeting.
- Succession: Bloomberg reported that the board has been working with an outside firm to identify possible replacements and is considering an interim chief executive if Huang is removed.
- The investigation: the board opened an independent probe on 8 November. On 10 November the independent directors appointed former acting US Attorney Joon H. Kim and the law firm Wachtell, Lipton, Rosen & Katz to run it.
- Analyst view: Dan Ives of Yorkville Ives wrote that Nvidia is worth $300 per share with Huang as CEO and $225 without him (Al Jazeera).
- Next dates: fiscal Q3 2027 results on Tuesday 17 November after the close, with a call at 5 p.m. Eastern (Nvidia). Republican lawmakers have asked for a closed-door briefing on 18 November.
What happened after the close
Nvidia spent Wednesday’s regular session recovering. CoreWeave, one of its largest customers, reported Q3 revenue of $3.66 billion and raised its 2026 forecast, and the chip sector rallied. Nvidia climbed 2.92 percent to $173.73. Our Wednesday session report covers that rebound.
The gain disappeared within minutes of the closing bell. The Wall Street Journal reported that Nvidia’s board was preparing to oust Huang after reports of two extramarital relationships. The New York Times had reported a second relationship, with Nvidia executive Kimberly Powell, who leads the healthcare business. Huang acknowledged an affair in a memo to staff on 8 November. US officials reportedly suspected the other woman involved of passing information to Chinese authorities. Those allegations are unproven, and the board said on 8 November that it had no reason to believe US national security or Nvidia’s proprietary information had been compromised. The full news account is on our Nvidia board report.
At the time of writing, no outlet had reported a board decision. Readers should treat claims that Huang has already been removed with caution until Nvidia makes a statement or files a document with the SEC.
How far the stock has fallen
Nvidia closed at $186.64 on Friday 6 November. It then fell 4.27 percent on Monday and 5.47 percent on Tuesday as the investigation weighed on the stock, before the Wednesday rebound. An after-hours price near $159 would sit about 15 percent below the 6 November close. The company has lost more than $300 billion in market value this week, according to Forbes. Al Jazeera put Nvidia’s value at about $4.2 trillion before the after-hours drop.
The selling spread overseas on Thursday. Taiwan’s Taiex fell 1.2 percent and Japan’s Nikkei 225 slipped 0.1 percent, according to the Associated Press. In the US, AMD rose more than 3 percent after hours as some traders moved into rival chipmakers, Benzinga reported.
What analysts are saying
Most analysts frame the risk as a question of leadership rather than demand. Ives put a $75 per-share difference on Huang’s presence: $300 with him and $225 without. Jay Goldberg, senior analyst at Seaport Research Partners, told Al Jazeera that replacing Huang “will be very painful organisationally.” Huang co-founded Nvidia in 1993 and owns about 3.6 percent of the company, according to the Korea Times, and Nvidia has no obvious successor.
The CNBC Investing Club downgraded Nvidia to its hold-equivalent rating on Tuesday, citing uncertainty over Huang’s future. Ives’ “without Huang” figure of $225 is still well above the after-hours price, which suggests that analysts see the business itself as intact. The risk to the stock is a period without a clear leader, and how long the board takes to settle the question. Our Monday Nvidia page set out the levels when the probe was first announced.
Nvidia stock: bull, base and bear
| Scenario | NVDA | What has to happen | Anchor |
|---|---|---|---|
| Bear | $145 | The board removes Huang without a permanent successor in place, and the selling continues into the 17 November results. | A second fall the same size as Wednesday’s after-hours drop (8.6 percent from about $159). |
| Base | $159-$174 | The board names an interim arrangement or delays a decision, and the stock trades between the after-hours level and Wednesday’s close until results. | The $158.78 after-hours quote and the $173.73 Wednesday close. |
| Bull | $187 | The board keeps Huang, or settles the leadership question quickly, and results on 17 November show demand holding up. | The $186.64 close of 6 November, before the investigation was announced. |
The bear case sits below the after-hours price. These are reference levels measured from the latest quotes, not forecasts. After-hours trading is thin, and the regular session opens at 14:30 GMT.
What to watch
- A board statement: any announcement from Nvidia or an SEC filing on Huang’s role, or on an interim chief executive.
- Today, 09:00 GMT: US premarket trading opens, which is the first broad read on where the stock settles.
- $173.73: Wednesday’s close, the level the stock needs to recover to undo the after-hours drop.
- 17 November: fiscal Q3 2027 results after the close. Guidance and any comment on leadership will matter as much as the numbers.
- 18 November: the closed-door briefing that lawmakers have asked for.
Quick take: Nvidia closed Wednesday at $173.73 and dropped about 8.6 percent to near $159 after hours on reports that the board was preparing to remove Jensen Huang. No decision had been announced at the time of writing. The $186.64 close of 6 November is the level above, a second leg lower would point to about $145, and results on 17 November are the next fixed date.
FAQ
Why is Nvidia stock down today?
The Wall Street Journal reported on Wednesday evening that Nvidia’s board was preparing to remove CEO Jensen Huang after reports of two extramarital relationships. Shares fell about 8.6 percent after hours, according to Forbes.
Has Jensen Huang been fired?
Not as of 07:30 GMT on Thursday 12 November. Reuters reported that the board met late Wednesday to decide his future, but no decision had been announced and Nvidia had not commented on the meeting.
What is Nvidia’s stock price?
Nvidia closed at $173.73 on Wednesday 11 November. It was quoted at $158.78 at 8 p.m. Eastern time in after-hours trading, according to Forbes. Thursday’s regular session opens at 14:30 GMT.
Who could replace Jensen Huang?
Nvidia has not named anyone. Bloomberg reported that the board has been working with an outside firm to identify potential replacements and is considering an interim CEO.
When does Nvidia report earnings?
On Tuesday 17 November after the US close, with a conference call at 5 p.m. Eastern time, according to Nvidia.
What is Nvidia worth without Huang, according to analysts?
Dan Ives of Yorkville Ives values the stock at $300 per share with Huang as CEO and $225 without him. Both figures are above the after-hours price. Price targets are not guarantees.
What are the key Nvidia levels?
The $186.64 close of 6 November above, then Wednesday’s $173.73 close. The $158.78 after-hours quote is the current reference, and $145 is the bear level below.
Sources: The Wall Street Journal, Reuters, The New York Times and Bloomberg, 11 November, as reported by Forbes, Al Jazeera, the Korea Times and Benzinga; Forbes, 12 November (after-hours price, market value lost this week); Al Jazeera, 12 November (Ives and Goldberg comments, market value); Associated Press, 12 November (Asian markets); CNBC Investing Club (rating change); Nvidia (results date); FinanceFeeds desk reporting, 11-12 November (closing prices, investigation details, congressional briefing request).
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Stock prices are volatile. Do your own research and consult a licensed financial adviser before making investment decisions.
