Huang Quits Nvidia; CFO Kress Is Interim CEO

Jensen Huang resigned as Nvidia's president, chief executive and board member on Thursday, Nov. 12, effective immediately, the company's board announced. Chief Financial Officer Colette Kress will serve as interim CEO while the board searches for a permanent successor, ending Huang's 33-year run at the chipmaker he co-founded in 1993.

Key takeaways

• Kress, CFO since 2013, becomes interim CEO and keeps her finance role; the board will weigh internal and external candidates.
• Former Synopsys CEO Harvey C. Jones becomes Nvidia's first-ever board chair.
• Nvidia shares fell as much as 16% during the day before closing down 4.3%, NBC News reported. Third-quarter results are still due Nov. 17.

Who is running Nvidia now

Kress has been Nvidia's executive vice president and CFO since September 2013, according to the release. Before that she spent nearly 25 years in finance roles at companies including Cisco and Microsoft. She will hold the CEO and CFO jobs at once until a permanent chief is named.

"I am committed to building on the extraordinary foundation Jensen created over the last 33 years," Kress said in the statement. Jones, a technology executive and venture investor who previously served as CEO and executive chairman of Synopsys, said the board expects "the company's operations, customer commitments and product roadmap to continue without interruption."

The announcement contains no statement from Huang. It thanks him for "immeasurable contributions" but gives no reason for his departure.

Why Jensen Huang resigned: four days of pressure

The exit came four days after the board said it had opened an independent investigation into reports that Huang was the target of a foreign intelligence effort. That Nov. 8 statement said the board "has confidence in Jensen and his leadership team." The Guardian reported that the board later hired law firm Wachtell, Lipton, Rosen & Katz to run the review.

The same day as the board statement, Huang admitted in a staff email that he had been "unfaithful" to his wife. That followed a Financial Times report about his relationship with a businesswoman whom a source told NBC News was a Chinese spy. Late Wednesday, The New York Times reported that Huang had a relationship with an Nvidia executive who reported to him, and the board met that night, according to The Guardian. AI Newsway has not independently verified those reports.

Nvidia stock reaction and market value

Nvidia shares dropped as much as 16% on Thursday before ending the session 4.3% lower, NBC News reported. The company's market value briefly fell below $4 trillion for the first time since 2025 and closed barely above that level. Roughly $500 billion in value has been erased over the week, NBC said.

JPMorgan analysts wrote before the resignation that "the risk of more restrictive guidelines on shipments directly or indirectly into China has risen," according to NBC News.

Context: a company built around one leader

Huang owns about 3.6% of Nvidia and managed roughly 60 direct reports, The Guardian reported. NBC News said the company had no formal succession plan. Nvidia supplies the chips that AI developers such as OpenAI and Anthropic use to train and run their models.

What's next

Nvidia said it will report results for the third quarter of fiscal 2027 on Tuesday, Nov. 17, at about 1:20 p.m. PT, with a call at 2 p.m. PT, as previously scheduled. That will be Kress's first earnings call as interim CEO. Huang has agreed to brief Congress on his interactions with the alleged spy, lawmakers said, according to NBC News.

FAQ

Who is Nvidia's CEO now?
Colette Kress, the company's CFO, is interim CEO. She keeps the CFO title until a permanent successor is chosen.

Did Nvidia say why Huang left?
No. The release says only that he resigned all positions effective immediately and thanks him for his contributions.

Is Nvidia's earnings date changing?
No. Nvidia said third-quarter results will come out Nov. 17 as previously scheduled.

References

• NVIDIA Announces CEO Transition — Nvidia (Nov. 12, 2026)
• Statement From NVIDIA Board of Directors — Nvidia (Nov. 8, 2026)
• Nvidia stock falls after Huang resigns, weighing on broader market — NBC News (Nov. 12, 2026)
• Jensen Huang resigns as Nvidia CEO after alleged affairs — The Guardian (Nov. 12, 2026)