Nvidia Stock Recovers 5% After Resignation Calls, Huang Deadline Looms

Shares in Nvidia gained more than 5% in pre-market trading on Wednesday, recovering the bulk of the 5.47% decline seen a day earlier. The pickup came hours after a Republican senator told chief executive Jensen Huang to leave his post.

Wednesday marks the deadline for Huang to inform Congress if he will testify in a probe into suspected espionage for China. Over November 9 and 10, the company lost roughly $430 billion from its market capitalization.

Why the Senator Wants Huang Out

Kevin Cramer, a North Dakota Republican on the Senate Banking Committee, sits on the panel handling legislation that could limit Nvidia chip exports to China.

Late Tuesday, the senator told Politico he considers Huang a security threat.

“The potential for extortion is so tremendous that something as sensitive as Nvidia chips, I just think he’s got to go.”

Alice Huang, a former executive at Nvidia client Megaspeed, is suspected by US officials of working for Chinese intelligence, though the accusation has not been proven. In a November 8 staff memo, Jensen Huang acknowledged having an affair with her.

Former White House economic adviser Larry Kudlow added his voice to the calls for Huang to resign. The company's board continues to back him, and Donald Trump has also supported Huang remaining in his role.

Traders’ Pricing Ahead of Nvidia Earnings

Wachtell Lipton, the law firm leading an external investigation for the board, has yet to find evidence of compromised secrets or a breach of national security.

On Mad Money, CNBC's Jim Cramer proposed a solution.

• Huang goes on leave
• Executive Ian Buck takes over
• Solid earnings are paired with a substantial buyback

Options markets point to a steady session. Contracts maturing on November 11 imply a swing of roughly 2.5%, equating to a range of $171.56 to $180.30, per data from OptionCharts.

The picture for next week is more turbulent. Implied volatility, a measure of anticipated price fluctuations, has climbed to 59.3% from mid-October, nearly doubling.

Analyst Heisenberg noted that a convincing move above $180 could pave the way to $186.64 before the earnings report, provided Tuesday's troughs are not breached. The target aligns with the level registered at the November 6 close.

$NVDA clear $180 with conviction these next day(s) or so and we can see $186.64 next before earnings and his congressional hearing next Tues/Wed.

That’s barely a 13% DCB off yesterday’s lows.
But gotta hold yesterday’s lows.

Doable.
— Heisenberg (@Mr_Derivatives) November 11, 2026

Nvidia is set to disclose earnings on November 17, one day ahead of the proposed briefing. House Foreign Affairs Chairman Brian Mast is said to be “prepared to subpoena” Huang if he fails to meet the Wednesday deadline.

By Wednesday morning, Nvidia had not confirmed Huang's attendance. The legislation targeting China chip sales is being considered for inclusion in this year's must-pass defense bill.