Nvidia CEO Jensen Huang resigns, Colette Kress named interim CEO
Nvidia chief executive Jensen Huang resigned as CEO on Thursday, November 12, 2026, and will no longer hold any role at the chipmaker, the company said. The exit follows reports about his extramarital relationships, one of them with a woman whom U.S. intelligence authorities reportedly determined to be a Chinese asset.
On the Sunday before the announcement, Huang had apologized to the company in a statement in which he said: “I was unfaithful to my wife.”
Colette Kress takes over as Nvidia’s interim CEO
Colette Kress, Nvidia’s chief financial officer and executive vice president, will serve as interim CEO. She will lead the company until it chooses a permanent successor. Nvidia is evaluating both internal and external candidates for the job.
Learn more: DOJ probes Nvidia over 20 billion dollar agreement with Groq
Nvidia’s board names Harvey Jones as its first chairman
The board named Harvey Jones, former CEO of Synopsys, as the first chairman of the board in Nvidia‘s history. Huang’s exit took effect immediately, the company said.
Jensen Huang’s exit ends a 1993 co-founder’s run as CEO
Huang co-founded Nvidia in 1993 and has led the company as CEO ever since, so this resignation closes more than three decades at the head of the chipmaker. The company had investigated a relationship Huang had with a woman that U.S. intelligence authorities reportedly determined to be a Chinese asset. Before the announcement, the board had said Huang would keep leading the company even while the FBI investigated the case. Lawmakers in the United States had also called for his departure. Later reports said Huang had a second affair, this time with an executive who reported to him.
See also: Nvidia acquires Hugging Face for US$12.9 billion and expands dominance in artificial intelligence
Nvidia shares fall about 13% at the open
Coverage of the stock gave different figures for the drop. Some reports put the fall at about 10% in premarket trading and up to about 13% at the open, while another said it was more than 11%. The shares later pared part of their losses, and one report said they closed down 4% for the day.
- Market value of Nvidia before the announcement: above US$4 trillion, falling below that level in the morning.
- Value in shares that the initial drop could wipe out: US$440 billion, according to live coverage.
- Huang’s stake in Nvidia, which he also gives up: about 3.61%.
- New price target set by analyst Ives after the exit: US$225.
Analysts at Bernstein and Stifel said the effect on the stock will depend on how the change is carried out, not only on the change itself. Ruben Roy, an analyst at Stifel, said: “what matters for the stock from here is less whether a change occurs than how it is executed.”
Trump suggests Tim Cook for Nvidia’s top job
President Donald Trump reacted on Truth Social, writing that “there is only one man to take his place.” He suggested Tim Cook, former CEO of Apple, as Huang’s replacement and posted “A Legend replaces a Legend!” Trump also said Huang “did a fantastic job.” Nvidia has not named Cook as a successor, and the sources reviewed do not say whether the company has approached him.
The reports about the woman, named Alice Huang, come from press coverage. One of those reports said she had been recruited by China’s Ministry of State Security. The claim has not been confirmed by U.S. or Chinese officials in the sources reviewed, so it remains an allegation.
Nvidia’s permanent CEO search has no set date
Nvidia has not set a date for choosing its permanent CEO.
