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Nvidia heads for longest weekly losing streak since 2012 as Jensen exit rattles AI trade

By Reuters News

** Shares of chip giant Nvidia NVDA.O gain 1.2% to $168.2 premarket at the end of a tumultuous week

** Jensen Huang stepped down as CEO on Thursday after revelations of extramarital affairs, including one involving a suspected Chinese spy; CFO Colette Kress will take over as interim CEO

** NVDA stock set for a sixth straight weekly decline, a streak last seen in October 2012; shares down almost 11% this week through Thursday's close

** Close to $1.4 trln has evaporated from the company's market value since its record high close on October 6, briefly tipping below the $4 trillion level intraday on Thursday

** At least seven brokerages have downgraded their rating on the stock this week and several have reduced their price targets

** As of last close, NVDA down 10.9% YTD, the second-worst performer among "Magnificent 7" stocks, only behind Tesla TSLA.O

** NVDA will report Q3 earnings next week

** Retail investors aggressively bought the dip, lapping up a net $1.6 bln worth of NVDA shares till Thursday's close; set for biggest weekly move since March 2025 — Vanda data

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