CoreWeave shares dropped 14%, while Oracle fell 4.7%. Other chipmakers also declined: Micron was down 5.7% and Intel fell 4.8%. Marvell and Lumentum each lost more than 7%.

Huang, an Nvidia co-founder widely regarded as the public face of the AI arms race, resigned after two extramarital affairs came to light. One involved a suspected Chinese spy; the other involved an employee.

Nvidia said Thursday that Chief Financial Officer Colette Kress had agreed to serve as interim CEO until a permanent successor is named. The board has begun searching for the company’s next chief executive.