S&P 500, Nasdaq fall as Nvidia CEO's exit rattles AI stocks

What happened

The S&P 500 and Nasdaq Composite fell on Thursday as investors reacted to Nvidia CEO Jensen Huang’s resignation and higher oil prices. Nvidia shares dropped 7.6%, while its chief financial officer, Colette Kress, became interim CEO. Nebius also said its 2026 revenue would be at the low end of its previous forecast.

Confirmed

Global impact / market context

Nvidia’s leadership change may unsettle expectations for AI spending because investors viewed Huang as central to the company’s strategy and a public supporter of AI. Weak revenue guidance from Nebius adds concern that demand or growth across AI infrastructure businesses may not meet earlier expectations.

Analyst inference

The article describes broad pressure across AI-linked shares: chipmakers, data-center firms and cloud-computing providers fell alongside Nvidia. This suggests the news affected investor positioning across the AI trade, rather than Nvidia alone, while higher oil prices added another reason investors pulled back.

Analyst inference

What to watch

1. Watch for any further details on Huang’s resignation and how Nvidia assigns leadership responsibilities; the article identifies Kress as interim CEO but gives no permanent succession plan. Analyst inference
2. Compare Nebius’s later revenue updates with its previous forecast, since the company said 2026 revenue would be at the low end of that range. Confirmed
3. Track whether AI-linked shares stabilize or continue falling, especially across chipmakers and data-center firms; sustained weakness could raise financing costs or restrain capital spending. Analyst inference

Evidence

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