Jensen Huang resigns as Nvidia CEO: the stock opens 13% lower, pares the loss, and Polymarket turns to who comes next
The announcement ends a week in which the CEO question went from a board inquiry to a resignation. On Sunday, the board said independent directors and outside counsel would investigate reports involving Huang, as covered in our report on the board investigation. By Thursday morning, Polymarket priced his exit by year-end at about 77% after reports that the board was meeting on his future, as tracked in our resignation odds article. The Associated Press, via CP24, reported that Huang has admitted to a relationship with a businesswoman who reportedly passed intelligence and advanced chips to China, which has raised national security concerns. Nvidia's release does not mention the investigation, and none of the allegations have been established.
What the market is pricing
With the exit settled, the contracts that paid on a resignation are in resolution. On a combined Polymarket market about Huang and Nvidia's year-end market value, both branches in which he is not resigned or removed had closed at No by 16:38 UTC. The live question is the successor:
| Polymarket contract | Price (Yes) | Read (UTC) |
|---|---|---|
| Next Nvidia CEO: Ian Buck | 37.5% (bid 37, ask 38) | 18:17 |
| Next Nvidia CEO: Colette Kress | 16.1% | 18:17 |
| Next Nvidia CEO: Rene Haas | 10.3% | 18:17 |
| Next Nvidia CEO: Jensen Huang (no change) | 4.5% | 18:17 |
| Next Nvidia CEO: Jay Puri | 3.4% | 18:17 |
| Next CEO is internal / external | 59% / 36.5% | 18:17 |
| Huang out and Nvidia above / below $4T at end of 2026 | 60% / 38.5% | 18:17 |
The "Next CEO of NVIDIA?" event traded about $677,000 in the past 24 hours. The internal versus external split is thin, about $2,200 in a day, so it can move on small orders. Note that the Kress contract asks about the next permanent CEO under the market's own rules; her interim appointment is not the same thing, so check the resolution text before reading the price as a verdict on her. Our explainer on how prediction markets resolve covers why that wording matters.
How the stock traded
The open was the low point of the reaction. NVDA opened at $150.99, fell to $148.80, its lowest level in 52 weeks, and then recovered to a session high of $167.14 before trading at $165.43 at 18:17 UTC. That leaves the stock about 11% above the morning low but still about 32% below its 52-week high of $243.37, according to Twelve Data. Volume was about 19.4 million shares by that point. AP's update at 9:41 a.m. ET reported the S&P 500 down 0.7% and the Nasdaq composite down 1.5%, while some rival chipmakers rose. Analysts quoted by AP said the revenue impact is hard to quantify, because customers buy Nvidia's computing, software and networking ecosystem rather than its chief executive.
What the filing says, and does not say
The 8-K reports the change under Item 5.02, with an earliest event date of November 11 and a signature dated November 12. It says the board "accepted the resignation" effective immediately but gives no reason and no pay or severance terms. The board will consider internal and external candidates for a permanent CEO and set no timeline. Jones said the board "has full confidence in Colette and the leadership team" and expects operations, customer commitments and the product roadmap "to continue without interruption." Kress said the focus "remains on serving our customers, partners, developers and shareholders."
What to watch next
Nvidia reports third quarter fiscal 2027 results on Tuesday, November 17, at about 1:20 p.m. PT, with the call at 2 p.m. PT, a date the company says was set in advance. Kress will present as both interim CEO and CFO. Watch for any update on the board investigation, any statement from Huang, and whether the next-CEO prices shift once the board describes its search. The $4T combined market will be sensitive to the earnings reaction. For other company and macro contracts, see our Kalshi vs Polymarket odds page.
Method and limits
NVDA prices are a Twelve Data quote read at 18:17 UTC; intraday prices move quickly and the close may differ. Polymarket prices come from the public Gamma API, with market timestamps of 18:17 UTC; where bid and ask differ, we show the midpoint. Facts on the transition come from Nvidia's 8-K and press release; context on the allegations is as reported by AP and is not confirmed by Nvidia. Prices are not forecasts, and nothing here is investment advice.
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Frequently asked questions
Did Jensen Huang resign from Nvidia?
Yes. On November 12, 2026, Nvidia said Huang resigned as president, CEO and board member, effective immediately. CFO Colette Kress is interim CEO and Harvey C. Jones is the board's first chair.
How did Nvidia stock react to Huang's resignation?
NVDA opened at $150.99, 13.1% below the prior close of $173.73, hit a 52-week low of $148.80 and traded at $165.43, down 4.78%, at 18:17 UTC, according to Twelve Data.
Who is favored to be the next Nvidia CEO?
At 18:17 UTC Polymarket priced Ian Buck at 37.5%, Colette Kress at 16.1% and Rene Haas at 10.3%, with an internal pick at 59%. These are market prices, not predictions.
Sources
- Nvidia via SEC, NVIDIA announces CEO transition (Exhibit 99.1)
- SEC EDGAR, NVIDIA Corp Form 8-K, Item 5.02
- AP via CP24, Nvidia shares plunge after CEO Jensen Huang resigns, updated 9:41 a.m. ET
- Polymarket, Next CEO of NVIDIA? and related markets, read 18:17 UTC, November 12, 2026
- Twelve Data, NVDA quote, read 18:17 UTC
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