NVDA Stock Faces $150, Shaking Investors, with Nvidia Board Preparing to Oust CEO Jensen Huang
Nvidia shares extend their retreat from record highs above $243, approaching $150 as reports of potential leadership changes, political opposition to data-centre expansion and growing competition intensify concerns about the semiconductor giant's outlook.
Quick overview:
- Nvidia shares have fallen sharply from record highs above $243, approaching $150 due to leadership uncertainty and increased competition.
- Reports suggest the board may consider removing CEO Jensen Huang, raising concerns about the company's succession strategy and management continuity.
- Political opposition to data-centre expansion in key states poses additional risks to Nvidia's growth and demand for its processors.
- Inflation and rising financing costs are pressuring technology valuations, complicating the outlook for Nvidia amid intensifying competition from companies like Google and Oracle.
Nvidia shares extend their retreat from record highs above $243, approaching $150 as reports of potential leadership changes, political opposition to data-centre expansion and growing competition intensify concerns about the semiconductor giant’s outlook.
Nvidia Stock Extends Breakdown From Record Highs
Nvidia (NASDAQ: NVDA) shares have extended their decline, falling below $170 and subsequently approaching $150 after reversing sharply from record highs above $243. The semiconductor giant has faced mounting selling pressure as investors reassess the sustainability of massive infrastructure spending, financing requirements and the returns expected from expanding computing capacity.
The stock had already broken below $200 last week before slipping under $170, with selling accelerating following reports that Nvidia’s board was considering removing CEO and co-founder Jensen Huang.
According to The Wall Street Journal, the board was reportedly preparing to oust Huang as early as Wednesday evening. The report triggered additional volatility, with Nvidia falling nearly 8% in after-hours trading below $160 and wiping out almost $350 billion in market capitalisation.
However, the reported leadership discussions remain subject to confirmation, and any potential departure would raise significant questions about the company’s succession strategy.
Jensen Huang’s Future Raises Succession Questions
Huang’s leadership is closely associated with Nvidia’s transformation into one of the world’s most influential semiconductor companies. His departure, particularly if forced, could create uncertainty around management continuity, strategic priorities and relationships with major customers.
Nvidia’s highly centralised management structure and the absence of a clearly established succession plan could complicate any leadership transition. The board would need to reassure investors that the company’s product development, customer relationships and sales strategy would remain intact.
An interim CEO could initially take responsibility while the board conducts a broader search for a permanent successor. Nevertheless, the uncertainty surrounding leadership adds another risk to a stock already experiencing a substantial technical correction.
Data-Centre Backlash Threatens Future Chip Demand
Political developments following the November 3 U.S. midterm elections have introduced another challenge for Nvidia and its largest customers.
Opposition to unrestricted data-centre expansion has strengthened in Texas, Ohio and Georgia, with communities increasingly concerned about electricity shortages, water consumption and rising utility bills. Reports that 40 of 41 direct votes concerning data-centre projects failed illustrate the resistance facing developers.
For Nvidia, the implications extend beyond political headlines. Delayed construction, stricter permitting requirements and higher infrastructure costs could affect cloud providers’ expansion schedules and demand for its processors.
The concern is particularly relevant as semiconductor valuations continue to depend heavily on expectations of sustained infrastructure investment.
NVIDIA Stock Reverses From the Highs
NVIDIA shares lost momentum early in September after failing to break decisively above the $236 resistance zone, with the rejection sending the stock back below $210 but we have seen a decent rebound recently.
Shares have attempted the upside again and above $233 last month as investors responded positively to expanding infrastructure partnerships and CEO projections, but buyers were not able to sustain the rally and we saw dive below $160 today, with NVDA braking the last support at the 100 weekly SMA in green. But buyer are attempting to make a comeback.
Inflation and Financing Costs Pressure Technology Valuations
October inflation figures have also complicated the outlook for expensive technology stocks. Headline CPI increased 0.4% month-over-month, above expectations of 0.3%, while core CPI rose 0.3%, compared with forecasts of 0.2%.
Food prices increased 0.5% and energy prices advanced 0.7%. Falling used-car prices and slower airfare inflation offered some relief, although year-over-year comparisons were unavailable because the Bureau of Labor Statistics did not collect October 2025 survey data during the government shutdown.
Federal Reserve Governor Christopher Waller’s hawkish comments have further increased uncertainty surrounding monetary policy. Higher interest rates and Treasury yields could pressure semiconductor valuations by increasing financing costs and reducing the multiples investors are willing to pay for future earnings.
Infrastructure financing is already attracting scrutiny. CoreWeave has faced concerns after yields on certain debt maturing in 2032 approached 15%, highlighting the risks associated with heavily leveraged data-centre expansion. Amazon has also reportedly experienced delays involving Nvidia-equipped server racks waiting in warehouses because certain facilities lack sufficient electricity.
Google and Oracle Intensify Competition
Nvidia’s competitive position is also facing new challenges as major technology companies explore alternatives to its processors.
Google and Oracle plan to make Google’s Tensor Processing Units available through Oracle Cloud Infrastructure from 2027, offering customers another option beyond Nvidia-powered systems.
Meanwhile, Nvidia is expanding its exposure to optical networking and connectivity. The company has reportedly consulted executives at Marvell Technology and Lumentum ahead of Marvell’s approximately $115 billion acquisition of Lumentum.
Anthropic’s plans to expand computing capacity beyond 3.5 gigawatts by the end of 2026, potentially reaching 7 gigawatts in 2027, demonstrate that infrastructure demand remains substantial. However, Nvidia must compete for this spending against custom processors and alternative computing architectures.
Nvidia Stock Outlook: $150 Becomes a Key Downside Target
Nvidia’s retreat from above $243 toward $150 reflects several overlapping concerns: leadership uncertainty, data-centre opposition, financing costs, inflation and intensifying competition.
Although long-term demand for computing infrastructure remains significant, investors are becoming more selective about the returns expected from increasingly expensive expansion programmes.
With NVDA extending its technical breakdown, a sustained recovery will require renewed buying interest and evidence that customers can maintain their infrastructure commitments without weakening profitability. Until then, further downside volatility remains a risk, particularly if selling pressure pushes shares decisively below the $150 psychological level.
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