Jensen Huang Steps Down as Nvidia CEO
TREE NEWS reports: Nvidia co-founder Jensen Huang has resigned as president, CEO, and board member, effective immediately, the company announced on November 12. The board accepted his resignation on November 11. Huang, who led the company for 33 years, leaves after a scandal involving extramarital affairs.
Leadership Transition
Nvidia has appointed CFO Colette Kress as interim CEO while the board searches for a permanent successor. Kress will continue as executive vice president and CFO. Harvey C. Jones, a board member since 1993 and former CEO of Synopsys, has been named the first independent chair of the board. The board will consider both internal and external candidates for the permanent CEO role.
Kress, 59, joined Nvidia in 2013 after a career at Texas Instruments, Microsoft, and Cisco. During her 13-year tenure as CFO, Nvidia’s revenue grew from $4.13 billion in fiscal 2014 to $215.9 billion in fiscal 2026, a 52-fold increase. She became a billionaire in July 2025, with a net worth of $1-1.2 billion, thanks to her Nvidia stock holdings. She is widely respected on Wall Street for her steady, data-driven approach to financial communications.
Market Reaction and Implications
Nvidia shares fell sharply on the news, dropping over 9% in after-hours trading following reports that the board was preparing to force Huang out. The stock continued to decline at the open, briefly falling below $150, its lowest since June 15, before paring losses to around $160. Dan Ives of Yorkville Ives noted that the investigation could lead to congressional probes and pressure on the stock.
The resignation raises questions about Nvidia’s strategic direction. Huang was the visionary force behind Nvidia’s transformation from a graphics chip maker to the leading supplier of AI computing infrastructure. Kress is expected to maintain continuity, but the search for a permanent CEO will be closely watched. The board emphasized that operations, customer commitments, and product roadmaps will remain unaffected.
Forward Outlook
Nvidia’s dominance in AI chips remains unchallenged in the near term, but the leadership shakeup introduces uncertainty. Investors will look for clarity on the permanent CEO and any potential strategic shifts. The company’s next earnings call, likely led by Kress, will be a key test of confidence. As the AI boom continues, Nvidia’s stability is critical for the entire tech sector.
