Jensen Huang Resigns as Nvidia CEO With Immediate Effect; CFO Colette Kress Named Interim Chief
Jensen Huang has resigned as president, chief executive officer and a member of Nvidia's board of directors, effective immediately, the company announced on Thursday, November 12, ending the 33-year tenure of the co-founder who built the chipmaker into the central supplier of the artificial intelligence era. Chief financial officer Colette Kress will serve as interim CEO while the board searches for a permanent successor.
What We Know So Far
Short answer: Nvidia announced on Thursday, November 12, that Jensen Huang, 63, has resigned as president, CEO and a board member, effective immediately. CFO Colette Kress, who has led Nvidia's finance organization since September 2013, was named interim CEO while keeping her CFO role, and the board appointed longtime director Harvey C. Jones as its first-ever chair. The board has begun a formal search for a permanent CEO and will consider internal and external candidates. Nvidia shares fell nearly 10 percent in premarket trading on the news, to around $156.
How the Crisis Reached This Point
The resignation comes four days after Nvidia's board announced an independent investigation on Sunday, November 8, into reports that Huang had been targeted by a foreign intelligence effort, and one day after The Wall Street Journal reported the board was preparing to oust him. The board's position shifted after The New York Times reported on Wednesday, November 11, that Huang had a second extramarital affair — this time with Kimberly Powell, Nvidia's vice president of healthcare, who reports directly to him.
The first affair was with Alice Huang, also known as Huang Le, a former executive at Megaspeed International, a Singapore-based Nvidia customer. U.S. officials believe Chinese intelligence recruited her because of her access to the chipmaker's chief executive, according to earlier reporting. Huang acknowledged in a letter to staff on Sunday, November 8, that he had been unfaithful to his wife. He has not publicly addressed the second affair.
The U.S. Justice Department is leading a criminal probe into Megaspeed over alleged smuggling of export-restricted Nvidia AI chips to China — Megaspeed's Malaysian affiliate acquired at least $4.8 billion in Nvidia hardware between June 2024 and February 2026, some of it found sealed in crates — and the FBI is running a separate inquiry. A shareholder class action has also been filed. The House has scheduled a briefing on the matter for November 18. It is important to note that the allegations against Alice Huang have not been independently verified by Reuters, and Nvidia's board has said it has no reason to believe company secrets or U.S. national security were compromised.
Who Takes Over Now
Colette Kress joined Nvidia in September 2013 after nearly 25 years in senior finance roles at Cisco and Microsoft, and she is the first person other than Huang to run the company since it was founded in 1993. She will continue as executive vice president and chief financial officer while serving as interim chief executive.
Harvey C. Jones, a longtime technology executive, entrepreneur and venture investor who has served as an Nvidia director since 1993 and is a former chief executive of chip-design software company Synopsys, was appointed as the board's first-ever chair. In a statement, Jones said the board has "full confidence in Colette and the leadership team," adding that Nvidia expects its operations, customer commitments and product roadmap to continue without interruption.
Nvidia's announcement gave no reason for Huang's departure and did not announce findings from the independent investigation, which is being run by former acting U.S. Attorney Joon H. Kim and the law firm Wachtell, Lipton, Rosen & Katz. The company thanked Huang for his contributions over 33 years.
Read Also
- Nvidia Board Preparing to Oust CEO Jensen Huang After Second Affair Surfaces, WSJ Reports
- Nvidia Board Opens Independent Investigation Into CEO Jensen Huang Over Reports of Chinese Intelligence Targeting
- Nvidia Names Former US Attorney Joon Kim to Lead Investigation Into CEO Jensen Huang
Market Reaction and What Comes Next
Nvidia shares fell about 8 percent in after-hours trading on Wednesday after the Journal report, and dropped nearly 10 percent in premarket trading on Thursday, to around $156, after the resignation was announced. Since The New York Times first reported on October 29 about possible ties to Chinese intelligence, Nvidia has shed roughly $1.4 trillion in market value, according to The Decoder.
The first test for the new leadership comes on Tuesday, November 17, when Nvidia reports its third-quarter fiscal 2027 results as scheduled, at approximately 1:20 p.m. Pacific time, followed by an earnings call at 2 p.m. Pacific. The succession question is acute: Huang has said he does not believe in succession planning and runs Nvidia with a flat structure of roughly 60 direct reports, and the company's proxy statement warns it is "highly dependent on the services of our longstanding executive team." For the latest developments on this fast-moving story, follow our continuing Nvidia coverage here.
Why This Matters
Huang co-founded Nvidia in 1993 and turned it from a graphics-chip maker into the indispensable supplier of the artificial intelligence era, making him one of Silicon Valley's longest-serving and most powerful leaders. His sudden departure is one of the most consequential leadership changes in tech history, with implications for the AI industry, U.S.-China technology policy and the export-control regime Washington has built around advanced chips — and it leaves the world's most valuable chipmaker searching for a permanent leader days before its most-watched earnings report of the year.
Frequently Asked Questions
Has Jensen Huang resigned from Nvidia?
Yes. Nvidia announced on Thursday, November 12, 2026, that Jensen Huang has resigned as president, chief executive officer and a member of the board, effective immediately, ending his 33-year tenure at the company he co-founded in 1993.
Who is Nvidia's interim CEO?
Colette Kress, Nvidia's executive vice president and chief financial officer since September 2013. She will keep her CFO role while serving as interim CEO, and she is the first person other than Huang to run Nvidia since it was founded.
Why did Jensen Huang resign?
Nvidia's announcement gave no reason for his departure. The resignation followed reports of two extramarital affairs — one with Alice Huang, a former Megaspeed executive suspected of links to Chinese intelligence, and a second with Nvidia executive Kimberly Powell — plus a board investigation, a DOJ criminal probe into Megaspeed and a shareholder lawsuit.
Who is Harvey Jones?
Harvey C. Jones is a longtime technology executive and venture investor who has served as an Nvidia director since 1993 and is a former chief executive of chip-design software company Synopsys. He was appointed as the first-ever chair of Nvidia's board.
How have Nvidia shares reacted?
Shares fell about 8 percent in after-hours trading on Wednesday, November 11, after the Wall Street Journal reported the board was preparing to oust Huang, then dropped nearly 10 percent in premarket trading on Thursday to around $156 after the resignation was announced.
When will Nvidia report earnings?
Nvidia will report its third-quarter fiscal 2027 results as scheduled on Tuesday, November 17, at approximately 1:20 p.m. Pacific time, followed by an earnings call at 2 p.m. Pacific.
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