Jensen Huang resigns as Nvidia chief executive, and finance chief Colette Kress takes interim control

Nvidia's board accepted the resignation of co-founder Jensen Huang on November 11, according to the company's Form 8-K filing with the Securities and Exchange Commission (SEC). He leaves his posts as chief executive, president and director with immediate effect, ending 33 years at the company. Colette Kress, the chief financial officer, becomes interim chief executive and keeps her finance role while the board searches internally and externally. Harvey C. Jones, a director since 1993, becomes the board's first chair, according to the filing.

Nvidia gave no reason, and the filing reports no findings from the independent investigation the board opened on November 8. The Wall Street Journal reported before the announcement that directors were preparing to remove Huang, according to a Russian-language summary of that report. CNBC reported that the board decided to oust him. Huang had admitted an extramarital affair. Al Jazeera, citing Reuters, reported further allegations of a relationship with a senior executive who reported directly to him. Yahoo Finance's live coverage reported allegations of a third affair. None of these allegations has been adjudicated.

The national-security part of the case concerns Alice Huang, a former executive of the Singapore-based Nvidia customer Megaspeed. The New York Times reported on October 29 that US intelligence agencies had concluded she passed information to Beijing. Officials told the paper they did not believe Jensen Huang knew of this, according to summaries of that report. Washington has published no evidence. China's embassy called the claims "groundless smears and slanders". Singapore has barred Alice Huang from re-entering the country for giving police inaccurate information, and a criminal investigation is under way there. Megaspeed has denied smuggling chips and says it will cooperate with US investigators. Nvidia has said the diversion allegations were investigated and debunked last year.

One detail matters more to regulators than Huang's personal conduct does. The Times reported that the Commerce Department stopped its Megaspeed export-control investigation after Nvidia's general counsel emailed the agents in August 2025, and the case moved to the Department of Justice. A shareholder lawsuit filed in California alleges that Nvidia and Huang misled investors in their responses to media reports about the affair.

The stock fell as much as 14% early on Thursday and closed down about 4%. CoreWeave and Naver, both Nvidia customers, fell 6% or more, and Broadcom and AMD rose, according to CNBC. Estimates of the market value lost over two sessions range from about $430 billion to $490 billion. Nvidia reports earnings on November 17.