Ed Ludlow

According to a statement, financial terms weren't disclosed.

And when that headline hit, by the way, there was a little move lower in Nvidia to session lows, but it kind of bounced back after.

Okay, coming up, leadership uncertainty at Adobe overshadows otherwise pretty steady results.

We're going to discuss that next.

This is Bloomberg Tech.

Shares of Adobe are really under pressure here.

We're off session lows, down 6.5%.

At one point in the session, we're on track for our biggest drop in exactly one year to the day.

On the week, Adobe very close to having its worst five-day performance since the end of 2024.

The news?

The company announced on its earnings call that Shantanu Narayan, who served as CEO for nearly two decades, is stepping down.

The stock has already been under pressure anyway, down over 30% on the last year or so as it faces concerns about its ability to thrive in the AI era.

Let's get to it.

Bloomberg's Brodie Ford.

is here with us.

I mean, this is not a new story with Adobe and whether it is managing well, transition into the AI era.

But we'll start with Shantanu.

You and I exchanged emails about, well, what happens next?

So tell us, you know, there's an effort to find a successor.

And I guess, did we get any insight as to why Shantanu's decided to take this decision at all?