Jensen Huang resigns as Nvidia CEO effective immediately, company announces; Colette Kress to serve as interim CEO

Jensen Huang, the founder who transformed Nvidia into one of the world's most valuable technology companies, has resigned as chief executive officer after 33 years at the helm. Nvidia's board announced Huang's departure on Thursday morning (November 12), bringing an end to days of intense speculation surrounding his future following reports of a major corporate scandal.

The resignation follows the board's decision to investigate whether Huang had become the target of a foreign intelligence operation. The investigation was reportedly prompted by allegations involving a woman whom US officials suspect of having links to Chinese intelligence. Separately, The New York Times reported that Huang had an alleged affair with a senior executive who directly reports to him. As Nvidia's founder in 1993, he played a central role in building the company into a global powerhouse and driving the artificial intelligence revolution. Nvidia's advanced chips have become essential to AI infrastructure worldwide, placing the company at the heart of the global technology investment boom.

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Huang's influence also extended beyond the corporate world, bringing him into the inner circle of US President Donald Trump amid growing competition over artificial intelligence and semiconductor technology. Following his resignation, Nvidia Executive Vice President and Chief Financial Officer Colette Kress has agreed to take over as interim chief executive officer, according to the company's announcement.

Nvidia shares plunged in Thursday’s premarket trading following the reported resignation of CEO Jensen Huang, triggering fresh uncertainty across the technology sector. The company’s stock (NVDA) dropped approximately 10% before the opening bell, with losses deepening after Nvidia announced Huang’s departure.

The leadership crisis has raised concerns about Nvidia’s future and the broader artificial intelligence market. Huang has played a pivotal role in driving the global AI boom, promoting the technology’s potential and leading major strategic partnerships and dealmaking across the tech industry. The news also weighed on broader US markets, with Nasdaq futures declining 1.4% and S&P 500 futures falling 0.7%, reflecting growing investor concerns over the potential impact of the sudden leadership change.