News
Nvidia Shares Drop 8% as Board Prepares to Remove CEO
Nvidia shares dropped more than 8% in after-hours trading following reports that the company's board is preparing to remove CEO Jensen Huang. The news pushed Nasdaq-100 futures down 0.97% and S&P 500 futures down 0.37%. Dow futures rose 0.15%. The Wall Street Journal also reported that Nvidia's board is gearing up to remove Huang from his post. Investors are weighing whether the artificial intelligence-driven rally has more room to run given recent weakness in Nvidia, while CoreWeave's better-than-expected results and raised revenue outlook reinforced the longer-term growth story.