The stock remains down 17% month to date and more than 9% for the year, putting it on track for its worst annual performance since 2022.

Nvidia said Thursday that finance chief Colette Kress had agreed to serve as interim CEO until a permanent successor is named. The board has begun a search and will consider both internal and external candidates. Longtime director Harvey C. Jones was appointed the company’s first-ever chair.

Nvidia’s third-quarter results next week will be closely watched for clues about the shares’ near-term direction, XTB’s Kathleen Brooks wrote. She said she expected earnings to exceed estimates of $108 billion, but added that the company’s future outlook mattered more than ever for its share price.

Huang resigned after reports of two extramarital affairs, one involving a suspected Chinese spy and another involving an employee.