Nvidia Perpetuals Fall 10% on Huang Exit Reports

Nvidia perpetuals (NVDA) fell 10% on Hyperliquid early on November 12, according to The Block, after reports that the chipmaker’s board was preparing to remove CEO Jensen Huang. The news arrived after the regular US stock-market session had closed, giving crypto traders the first chance to react.

Crypto exchanges offered investors a venue to position themselves before Nasdaq reopened. Nvidia had not announced a final decision on Huang’s position.

Nvidia Leadership Reports Trigger Selling After the US Close

The threat of a leadership change reversed the tone of Wednesday’s trading. Nvidia shares had finished the regular session up nearly 3%, but the board reports sent contracts tied to the stock lower.

Related: Nvidia Opens Board Inquiry Into Alleged Chinese Spy Effort Targeting Jensen Huang

The reaction spread into conventional markets. Nvidia shares fell more than 7% in after-hours trading, while Nvidia-linked contracts on Binance, OKX and Bybit also declined.

For traders holding NVDA exposure overnight, the key question was whether the board would replace the executive who co-founded Nvidia and has led it for more than three decades.

Nvidia Perpetuals Draw More Than $4 Billion in Trading