Nvidia on track for longest weekly losing streak since 2012 as market value sinks by $1.6 trillion

Nvidia’s share price is heading for a sixth consecutive weekly decline, its longest losing streak since 2012, after selling accelerated around the resignation of co-founder and chief executive Jensen Huang. The company has lost about 29% of its market value, roughly $1.6 trillion, and has fallen below Apple in value. Investors are also weighing broader concerns about the AI trade and the outlook for the company during a leadership change.

Huang resigned on Thursday after reports of two extramarital affairs, including one with an Nvidia employee; finance chief Colette Kress was named interim CEO while the board searches for a permanent successor. Nvidia shares fell 4.3% on Thursday, leaving them down 11% for the week. The company is due to report results on Tuesday, with analysts forecasting quarterly revenue of $108.9 billion, up 91% year on year, though some expect leadership uncertainty to overshadow strong results.