Nvidia CEO Jensen Huang resigns after Binance traders priced in his exit Bibhu Pattnaik Thu, November 12, 2026 at 12:25 PM EST 2 min read NVDA -4.98% Trade NVIDIA on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Nvidia CEO and co-founder Jensen Huang has resigned, the company's board of directors said on Thursday, reports Bloomberg.
The decision ends a weekslong saga that exposed several affairs, including one with an alleged Chinese spy.
It also pushed Nvidia's stock to eight-month lows over national security concerns. Chief Financial Officer Colette Kress will serve as interim CEO while the board looks for a permanent replacement, reports the outlet.
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The announcement confirmed what crypto traders had already priced in. Late Wednesday, after Nasdaq had closed, the Bloomberg reported that the board was preparing to remove Huang.
The reports said it had hired an outside firm to identify replacements and was weighing an interim CEO.
With US equities closed, Binance became the first venue to react. Its NVDAUSDT perpetual contract slid about 8.8% below Nvidia's Wednesday close of $173.73, touching an index level of 92.6 against a closing mark of 100.
The contract recorded about $2 billion in 24-hour volume, and roughly half of that came after the U.S. session ended.
Binance Research noted that the U.S. cash session had already ended when reports about Nvidia's leadership emerged, with the first repricing taking place on Binance.
"The board outcome is still unconfirmed. What you can see is the gap versus the official close, in the hours when the cash market had stopped trading. The 17 Nov earnings now land on top of this uncertainty as well," Binance wrote in a post on X.
Nvidia closed Wednesday at about $173.73, up nearly 3% on the day. The Binance contract then slid roughly 8.8% below that close, touching an index level of 92.6 against a closing mark of 100.
Huang apologized to employees in a Sunday email, the board opened an independent investigation, and a shareholder lawsuit now alleges Nvidia and Huang misled investors about one of the relationships.
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This story was originally published by TheStreet on Nov 12, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
