Jensen Huang Resigns From Nvidia; CFO Colette Kress Is Interim CEO

Jensen Huang, the co-founder who led Nvidia for 33 years, has left the world's largest AI chipmaker. The board named CFO Colette Kress interim CEO while it searches for a permanent successor.

Nvidia made the announcement in a press release on Thursday, November 12, 2026. According to TechCrunch, citing a regulatory filing, the board accepted Huang's resignation a day earlier, on Wednesday, November 11.

The exit comes days after Nvidia's board opened an independent investigation into reports that Huang had been targeted by a foreign intelligence effort. Nvidia's press release did not explain why he resigned.

What Did Nvidia Announce?

In a release titled NVIDIA Announces CEO Transition, the board said Huang resigned as president, CEO and director, effective immediately. The release contained no statement from Huang himself.

Two other changes came at the same time. Colette Kress, executive vice president and CFO, agreed to serve as interim CEO. Harvey C. Jones was appointed Chair of the Board, a role Nvidia had never had before.

The table below summarizes the new leadership lineup, based on the official release.

Source: Nvidia press release, November 12, 2026.

Jones said the board has full confidence in Kress and the leadership team, and that operations, customer commitments and the product roadmap are expected to continue without interruption. Kress said she would build on the foundation Huang created over 33 years.

Why Did Jensen Huang Resign?

Nvidia has not given an official reason. A week of media reports, however, outlines the background.

According to Al Jazeera, on Sunday, November 8, Huang admitted to being unfaithful to his wife and apologized to his family and employees. The same day, the board said it still had confidence in him and launched an independent investigation into reports that he had been targeted by Chinese intelligence. Those reports involve a former executive at a Singapore-based tech company who is alleged to have worked for Chinese intelligence.

On Wednesday, November 11, Al Jazeera, citing The New York Times, reported an alleged relationship between Huang and an Nvidia vice president who reported directly to him, a potential conflict of interest. Reuters reported the same day that the board was meeting to consider removing him.

Al Jazeera noted there is no established evidence that Huang knowingly helped Beijing or that company secrets were compromised. The board has reportedly said it has no reason to believe national security was compromised.

How Did Nvidia Stock React?

Markets reacted sharply. TechCrunch said Nvidia shares were down nearly 12% in early Thursday trading, while Al Jazeera put the intraday drop at more than 14% before a partial recovery. Since the previous Friday, the stock had fallen as much as 19%, wiping more than $855 billion off its market value, according to TechCrunch.

The pressure spread to companies that depend on Nvidia chips. TechCrunch reported CoreWeave fell about 9%, Nebius about 16% and IREN 6.6% the same day.

The next test comes quickly. Nvidia still plans to report third-quarter fiscal 2027 results on Tuesday, November 17, 2026, Kress's first major moment as interim CEO.

Who Is Colette Kress?

Kress joined Nvidia as CFO in September 2013. According to the company, she previously spent nearly 25 years in finance roles at technology companies including Cisco and Microsoft. Al Jazeera also lists Texas Instruments in her career.

During her tenure, Nvidia's annual revenue grew from $4.13 billion in fiscal 2014 to $215.9 billion in fiscal 2026, according to Al Jazeera. Analysts say her experience and Wall Street relationships put her on the shortlist for the permanent role.

Other names in circulation, according to Reuters via Al Jazeera, include Nvidia's Ian Buck, Arm CEO Rene Haas, AMD CEO Lisa Su and Micron CEO Sanjay Mehrotra. President Donald Trump suggested former Apple CEO Tim Cook on Truth Social, though there is no sign Cook is interested.

What It Means for the AI Industry

Nvidia is the main supplier of chips used to train and run AI models worldwide. A sudden leadership change at such a company naturally unsettles markets, especially since TechCrunch reports Huang ran a flat organization with about 60 direct reports and no clear succession plan.

On products, the board insists the roadmap is unchanged. Large customers such as cloud providers and AI labs are likely to watch whether chip delivery schedules hold.

Geopolitics is also in focus. Huang had lobbied against chip export restrictions to China, and Al Jazeera reports that U.S. lawmakers are examining the potential national security implications of his reported relationships.

Conclusion

Jensen Huang's era at Nvidia has ended abruptly. Colette Kress now holds the reins, and the November 17 earnings report will be the first test of whether investors believe Nvidia can stay steady without its founder.