Nvidia Slides ~7% Premarket as Board Weighs Ousting Jensen Huang, Dragging AI Trade and Futures Lower
NVDA is trading near its 52-week low of $164.27 (0.2% below the low) on elevated volume (2.6× avg).
Summary
Nvidia shares fell close to 7% in premarket trading as the board weighs removing co-founder and CEO Jensen Huang, following reports of an extramarital affair with an Nvidia employee and one with an alleged Chinese spy. This extends the board-removal story reported late Wednesday, but the fresh element is the new session's price action and the spillover: Nasdaq futures dropped 0.8% and S&P 500 futures fell 0.4%, with SoftBank down over 3% in Tokyo and ASML off over 3% in Europe. The stock is trading near its 52-week low, so the market is already pricing real damage to the AI thesis rather than a one-day headline. Chip peers are mixed — AMD and Broadcom each gained over 3% premarket while Intel and Sandisk slid — suggesting investors are rotating within AI rather than abandoning it outright. The key open question is whether Nvidia's problems simply redistribute AI spending to competitors or begin to disrupt it. News on Huang's position is expected later Thursday.
At the time of this announcement, NVDA was trading at $164.00 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.2T. The 52-week trading range was $164.27 to $243.37. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.