Nvidia tokenized and perpetual contracts tumble after reports of a possible CEO ouster
Nvidia perpetual futures on Hyperliquid dropped as much as 10% after media reports said the board may remove CEO Jensen Huang, according to The Block.
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what happened
Perpetual futures tied to Nvidia shares on Hyperliquid sank as much as 10% late on Wednesday, after media outlets reported that the chipmaker's board is getting ready to remove chief executive Jensen Huang. The reports point to two personal relationships outside marriage, one tied to an alleged Chinese intelligence operative.
The NVDA-USDC contract touched a low near $156.14 before paring losses, and was last at $158.86 at 7:50 p.m. ET, down 6.8% over 24 hours. The tokenized NVDAx from xStocks fell as much as 9%, while Nasdaq-listed shares dropped 8% after hours.
Wall Street Journal, citing people familiar with the matter, reported that the board could convene as early as that day to weigh Huang's future. The New York Times added that Huang had a relationship with Kimberly Powell, the company's vice president of health care, and said two former employees saw the pair together at a San Jose hotel during a March conference. Prediction markets moved quickly: Kalshi odds of Huang stepping down before Nov. 13, 2026 rose to 64% from about 37% a few hours earlier, while Polymarket showed 67% for a departure by Nov. 12 and 71% by Nov. 13.
US index futures also weakened, with S&P 500 futures down 0.4% and Nasdaq 100 futures off 0.8%. Asian markets were mixed early Thursday: Kospi slipped 0.3%, Samsung Electronics rose 1.6%, SK Hynix fell 0.6%, and Nikkei 225 gained 0.2%. The Block said it has contacted Nvidia for comment.
why it matters
Nvidia is among the most valuable US companies, so doubts about its leadership can move index futures and rival chip stocks. Hyperliquid perpetual contracts trade around the clock, so the reaction showed up before the Nasdaq opened. The reports rely on sources rather than an official board decision.
market impact
Nvidia shares and US index futures: leadership doubts pressure the stock and the chip sector
- Nvidia shares pressure down — risk of a CEO change erodes investor confidence
- Nasdaq 100 futures pressure down — Nvidia's heavy index weight drags the benchmark lower
tags
instruments
on polymarket
sources
- Nvidia perps plunge 10% on Hyperliquid as board reportedly weighs ousting Jensen Huang — The Block, 12 November 2026 at 02:23 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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