Key insights
- Arm stock price fell 5% as reports linked CEO Rene Haas to Nvidia.
- NVDA stock traded at $162.14, down 2%, in the afternoon snapshot.
- Kalshi showed Haas at 34%, ahead of Ian Buck and Colette Kress.
Arm stock price fell 5.14% on Friday after a report linked CEO Rene Haas to Nvidia’s leadership search.
Notably, Arm stock price stood at $189.51 at 1:38 p.m. ET on November 13. NVDA stock price was also falling at that time. The Financial Times reported that Nvidia’s board approached Haas about succeeding Jensen Huang.
Haas is one of several candidates being considered, according to the report.
Arm Stock Price in Focus as Nvidia Seeks CEO
The report said an offer was not guaranteed, and Haas might not accept one. Analysts had discussed Haas as a possible candidate after Huang’s departure.
Reuters could not independently verify the report. Arm declined to comment, while Nvidia did not immediately respond to a request for comment.
The search followed Huang’s resignation as Nvidia CEO on November 12. Nvidia appointed finance chief Colette Kress as interim CEO while its board searches for a permanent successor.
Huang’s departure followed reports of extramarital relationships, Reuters reported. One involved a woman whom U.S. intelligence officials suspected of spying for China. Attorney General Todd Blanche said the Justice Department had not concluded whether she was a spy. China denied the allegations.
Haas previously spent about seven years at Nvidia, becoming vice president and general manager of its computing products business. He joined Arm in 2013 and became its CEO in 2022. He later oversaw the company’s 2023 Nasdaq listing.
Haas maintains ties with Huang and some Nvidia board members, according to the Financial Times report. Arm is backed by SoftBank. It designs processor architectures and licenses them to chipmakers. Its designs have historically been used in mobile phones, while the company has expanded into computers.
Arm Stock Price and NVDA Stock Price Decline
Arm stock price opened at $196.48, down from its previous close of $199.78. Its one-day chart showed shares falling through the morning and dipping toward $182 to $183 shortly before noon.
Later, Arm stock price rebounded to around $190 before trading mostly between $187 and $190 in the early afternoon. At the time of the snapshot, the Arm stock price remained below both its opening price and previous close. The quote panel showed a trading volume of 3.94 million shares. Reuters reported that Arm shares pared losses after the succession report.
The NVDA stock price stood at $162.14 at 1:42 p.m. ET, down 2.44%, or $4.05. Nvidia stock price had opened at $169.91, while the previous close was $166.19. The quote panel listed a high of $170.
Nvidia’s one-day chart showed shares falling toward $158 to $159 during the morning. The Nvidia stock price later recovered to around $162 in early afternoon trading.
Kalshi Market Tracks Nvidia CEO Candidates
Amid the Arm stock price and NVDA stock price decline, a Kalshi snapshot showed Rene Haas leading the market for Nvidia’s next CEO at 34%.
The chart showed his odds rising from around 12% near the end of the period. Ian Buck followed at 30%, after trading above 37.5% earlier. Kress stood at 12%, having spent part of the period above 25%.
The chart covered November 12 and 13 and displayed $4,498,242 in trading volume. Kalshi’s market rules state that interim or acting CEOs do not count. Kress’s existing interim appointment therefore does not settle her contract.
Before Huang resigned, Elon Musk said he would be honored to hire him. Musk made the comment on X after ZeroHedge suggested he employ Huang. The exchange followed reports that Nvidia’s board was discussing Huang’s future.
