Can Nvidia Stem Share Decline as Competitors Step into Huang Void?

Nvidia (NVDA) shares recovered from a steep selloff Thursday morning after Jensen Huang's resignation as CEO, but the stock is down roughly 5% midday as traders assess the unknown impact to the AI supply chain.

Broader equity markets also recovered Thursday, with the S&P 500 (SPX) up 0.20% well above session lows; the Nasdaq-100 (NDX) was up 0.09% in recent trading.

According to multiple reports, Jensen Huang — who resigned after allegations of two separate extramarital affairs — has agreed to appear before the bipartisan House Committee on China to discuss business dealings with Alice Huang, a Chinese national and executive at Singapore‑based Megaspeed, an Nvidia customer. The Information reported that companies tied to Alice Huang invested in artificial intelligence startup DeepSeek, based in China, and allegedly promised to provide it with Nvidia chips restricted from export to China. U.S. intelligence agencies have alleged she funneled Nvidia information to the Chinese government, which has denied U.S. espionage accusations, according to reports.

Nvidia reports earnings Tuesday, Nov. 17, with newly named interim CEO Colette Kress, the current CFO, set to hold a meeting November 18 per a memo seen by Reuters. 

Ex-CEO Huang, who co-founded Nvidia in 1993 and led it for 33 years, resigned as president, CEO, and board member, effective immediately Thursday. Kress retains her EVP and CFO roles; the board also appointed longtime director Harvey C. Jones as the company's first-ever chair of the board.

Jensen Huang's departure follows days of damaging reports. The first, which gained traction Sunday, said Huang had an affair with Alice Huang (no relation), the Chinese businesswoman and executive at Megaspeed. Jensen Huang admitted to being unfaithful to his wife in a memo. The Nvidia board said it launched an investigation.

Then on Wednesday afternoon, The New York Times reported Jensen Huang allegedly had an affair with Nvidia's vice president of healthcare, who reported directly to him.

Competitors could gain opportunity in the shuffle. This afternoon, in earnings calls after the bell from Cisco (CSCO), Applied Materials (AMAT), and Cerebras Systems (CBRS), leaders may address any impact on their AI businesses from the Nvidia upheaval and its tentacles.

See 

Tech Earnings from AMAT, CSCO, CBRS: A Litmus Test for AI Ecosystem?

NVDA at June 2025 Lows After Jensen Huang Resigns: Stock Still a Buy? 

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