A report of an ouster, a meeting, and then silence

Start with what has actually been established, because the headline version runs ahead of it. The Wall Street Journal reported on Wednesday that Nvidia's board is preparing to remove Jensen Huang as chief executive, citing people familiar with the matter. Reuters, citing a source familiar with the matter, reported that the board was meeting late on Wednesday to decide whether to oust him, and that the meeting went late into the night. Bloomberg reported that the board has been working with an outside firm to identify possible replacements.

What has not happened, as of Thursday's premarket reports, is an announcement. Nvidia did not respond to Reuters' request for comment on the meeting, and no change in Huang's position has been publicly announced. The company's last statement on his position is still Sunday's, in which the board expressed confidence in Huang and his leadership team while opening an investigation it described as independent into reports that he had been the target of a foreign intelligence effort. The reported deliberations are a new development, but they do not establish a removal decision, and they do not formally withdraw Sunday's confidence statement.

The second report is the unverified part

The meeting reports appeared alongside a New York Times report on Wednesday that Huang had also had a relationship with a company executive who reports to him. The Times named the executive and cited five people who worked at the company. Reuters is explicit about the limits here: it could not immediately verify the report, and neither Nvidia nor the executive responded to requests for comment. According to the Times account, carried by Reuters, when the paper reached Huang by phone he said, "I don't think you should be talking to me directly," and hung up.

That distinction matters for how to read everything downstream. The board meeting is corroborated by Reuters' own source. The reason given for the meeting rests, in part, on an account that Reuters itself has not verified. In his Sunday memo to employees, Huang acknowledged being unfaithful to his wife and took "full responsibility," but gave no details about any relationship. Nothing in the public record so far is a board finding.

The market moved before any announcement

The market is not waiting for the board, and its numbers need their timestamps kept separate. Nvidia closed Wednesday at $173.73, up 2.87% on the day. After hours it fell to $158.76, an 8.6% drop recorded at 19:59 ET in The Mac Observer's price table. On Thursday it slid about 7% in early Frankfurt trading, and Reuters reported US premarket losses of about 7% as well. Reuters put a conditional figure on the whole episode: if Thursday's early losses in Frankfurt held, Nvidia would have lost about $600 billion in market value since the board announced its investigation on Sunday. Bernstein and Oppenheimer downgraded the stock and Citi cut its target, with Citi citing the overhang a leadership transition creates over strategy, product vision and customer relationships.

The peer moves were divergent rather than uniform. On Wednesday night, AMD rose 4% and Broadcom 3% in after-hours trading while CoreWeave fell 6% and Micron nearly 2%, Reuters reported. Suppliers and partners most tied to Nvidia fell while two rivals rose. The reports do not isolate the causes of each move, and neither does this article.

No successor has been named

The practical problem is succession, and it is structural. Huang, 63, co-founded Nvidia in 1993 and is its only chief executive. He owns about 3.6% of the stock, has dozens of direct reports, and has no obvious successor, as Reuters puts it. Under the company's bylaws a majority of its 11 directors can remove him "with or without cause," and every director except Huang is independent. Armina Rosenberg of Minotaur Capital, which holds Nvidia shares, told Reuters that chief financial officer Colette Kress, in the role for more than a decade, would be the natural choice as an interim chief executive, while the harder question is who leads the technology roadmap longer term.

The calendar gives the board very little room. Nvidia reports quarterly results on November 17, the next scheduled company milestone in this reporting. If Huang is removed before then, an interim chief executive faces analysts within days of taking the job. If he is not, the earnings call proceeds under reports the company has not addressed. Either way, the next confirmed fact in this story is likely to come from the company, and until it does, the ouster remains what it is this morning: reported, priced, and not announced.

*Update, November 12, 2026:* Nvidia has announced that Jensen Huang has resigned as president, chief executive officer and director. Its Form 8-K, filed November 12, records that the board accepted the resignation on November 11, effective immediately. Colette Kress, the chief financial officer, is interim CEO and continues as CFO while the board searches for a permanent successor; Harvey C. Jones is the board's first-ever chair. The filing and the announcement give no reason and do not mention the investigation. Full report: [Jensen Huang Has Resigned. Nvidia's Announcement Gives No Reason.](https://alfw.ai/article/jensen-huang-resigns-nvidia-gives-no-reason/)

Sources

  1. [1] Reuters (via WNCY syndication) — "Nvidia board meets to decide CEO Huang's future as leadership crisis deepens," by Aishwarya Venugopal and Alexandra Alper, published November 11, 2026, updated November 12, 2026 (read first-hand in full; source for the board meeting, bylaws, succession, downgrade and cross-market details, and for the WSJ, Bloomberg and New York Times reports as carried by Reuters)Read source
  2. [2] Reuters (via SRN News syndication) — "Nasdaq futures fall as Nvidia turmoil rattles AI stocks," November 12, 2026 (US premarket fall of about 7% and index futures at 04:11 ET, November 12)Read source
  3. [3] The Mac Observer — "Nvidia stock sinks 8.6% after hours as Jensen Huang faces reported ouster," November 12, 2026 (read first-hand in full; after-hours price series and closing-price table)Read source
  4. [4] Finnhub market data for NVDA, snapshot November 12, 2026, 11:00 UTC (November 11 close of $173.73; earnings estimate date November 17, 2026)Read source