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Nvidia shares cratered more than eight percent in after-hours trading after the Wall Street Journal reported the company's board is weighing the removal of CEO Jensen Huang. The move sent Nasdaq futures lower and dragged chip stocks broadly, wiping out more than three hundred billion dollars in market value overnight.
The fallout extends well beyond a single balance sheet. Analysts are sounding the alarm that pushing Huang out weakens America's competitive position in artificial intelligence at precisely the wrong moment. China's semiconductor ambitions have been gaining ground, and Huang's strategic vision has long been the primary reason Nvidia holds the lead it does.
Nasdaq futures were already under pressure heading into the overnight session, with the Nvidia news acting as the dominant catalyst. Other chipmakers felt the gravitational pull of the selloff, and traders will be watching closely Thursday morning to see whether institutional buyers step in to defend key technical levels or whether the pressure extends into the broader tech complex.
That's the tape. Markets Desk, signing off the floor.
