By William Collins, consultant in stock markets – Eurasia Business News, November 11, 2026. Article no 3257
Nvidia shares fell approximately 8% in after-hours trading Wednesday, November 11, after The Wall Street Journal reported that the company’s board was preparing to oust chief executive Jensen Huang. The sudden reversal unsettled technology investors just hours after artificial intelligence stocks powered a broad Wall Street rally.
The Journal reported that directors could meet as soon as Wednesday to determine Huang’s future following allegations involving two extramarital relationships, including one with a woman suspected of Chinese intelligence links. The report described preparations and deliberations, not a completed dismissal or an officially announced leadership transition.
Nvidia Stock Reverses After Strong Regular Session
Nvidia’s extended-hours decline contrasted sharply with its performance during regular trading. The chipmaker had gained approximately 2.9% as investors returned to AI-related companies following upbeat CoreWeave earnings. That rebound followed two consecutive losing sessions earlier in the week.
The after-hours selling quickly erased those gains. CNBC reported that Nvidia shares were down around 8% Wednesday evening as investors assessed the implications of a potential departure by the company’s co-founder and longtime leader.
The distinction between sessions matters. Nvidia’s regular-session gain contributed to Wednesday’s positive index closes, while its subsequent decline affected extended-hours sentiment and futures trading. It did not retroactively change the closing levels of the Dow, S&P 500 or Nasdaq Composite.
Dow Jones, S&P 500 and Nasdaq Close Higher
Before the leadership reports unsettled markets, all three major U.S. indexes finished Wednesday higher:
| Index | Closing level | Daily change |
|---|---|---|
| Dow Jones Industrial Average | 52,486.49 | +0.49% |
| S&P 500 | 7,619.38 | +1.31% |
| Nasdaq Composite | 25,466.19 | +1.60% |
The Dow gained 254.60 points, while the Nasdaq advanced 400.31 points. Technology shares led the recovery, with CoreWeave’s results helping restore confidence after recent volatility surrounding AI infrastructure spending.
The session illustrated the market’s sensitivity to developments at individual AI companies. Encouraging earnings supported risk appetite during trading hours, but uncertainty about Nvidia’s leadership rapidly disrupted that optimism after the closing bell.
What the Reports Say About Jensen Huang
The Wall Street Journal’s report followed a separate New York Times account alleging that Huang had an extramarital relationship with an Nvidia executive who reports to him. Together, the reports intensified scrutiny of the company’s leadership and board oversight.
The Journal also linked the board’s deliberations to an alleged relationship involving a suspected Chinese spy. That description requires caution: suspicion of intelligence links is not equivalent to a publicly established criminal finding, and the board report does not itself prove espionage or a transfer of company information.
For investors, the immediate issue is whether Nvidia announces a leadership change and how directors explain their decision. Until then, headlines suggesting Huang has already been removed go beyond what the cited report establishes.
CoreWeave Earnings Had Revived the AI Trade
Earlier Wednesday, CoreWeave shares surged approximately 25% after earnings eased concerns about demand for AI computing infrastructure. The rally spread to other cloud and semiconductor companies, helping lift the Nasdaq and broader market.
CoreWeave’s importance extends beyond its own stock. The company leases data-center computing capacity to major technology customers, making its results a closely watched indicator of spending across the AI ecosystem. Other “neocloud” companies, including Nebius, also benefited from the improved sentiment.
The positive reaction suggested investors remained willing to buy AI-linked stocks when business results supported growth expectations. Nvidia’s later decline, however, introduced a different risk: uncertainty surrounding management rather than an immediate deterioration in industry demand.
Nasdaq Futures Fall as Investors Reassess Risk
Nasdaq-100 futures declined Wednesday evening as Nvidia’s selloff weighed on technology sentiment. CNBC reported a drop of approximately 0.9%, while S&P 500 futures fell 0.3%. Dow futures moved in the opposite direction, rising about 0.2%. These were changing evening quotations, not forecasts of Thursday’s final performance.
The divergence showed that the initial reaction was concentrated in technology rather than uniformly negative across the market. Nevertheless, futures trading can change significantly as additional information emerges.
U.S. bond markets were closed for Veterans Day, leaving investors without a regular Treasury trading session alongside Wednesday’s equity moves.
What Investors Are Watching Next
The next decisive development is a formal statement from Nvidia addressing the board’s deliberations and Huang’s position. Investors will also watch whether selling spreads beyond Nvidia into chipmakers, cloud providers and other AI infrastructure stocks. Wednesday’s closing rally remains intact, but the after-hours reversal has shifted attention from earnings momentum to leadership uncertainty at one of the sector’s most influential companies.
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© Copyright 2026 – Eurasia Business News. Article no. 3257
