Jensen Huang exits Nvidia after 33 years; Colette Kress named interim CEO

Nvidia co-founder Jensen Huang has resigned as president and chief executive officer with immediate effect, ending his 33-year tenure at the world's leading AI chipmaker amid a controversy involving alleged extramarital affairs and a board investigation into possible foreign intelligence links.

The company’s board has appointed Colette Kress, Nvidia’s long-serving executive vice president and chief financial officer, as interim CEO. Kress will retain her CFO responsibilities until a permanent successor is named. The board said it would consider both internal and external candidates. Harvey C. Jones, a technology executive and former Synopsys CEO, has been appointed as the company’s first-ever chair of the board.

Affair allegations and apology to employees

The leadership change follows reports about Huang’s relationship with Alice Huang, a former executive at Singapore-based data firm Megaspeed, whom US intelligence officials reportedly suspect of having links to Chinese intelligence. The allegations raised concerns about potential national security implications and prompted Nvidia’s board to commission an independent investigation.

On November 8, Huang sent a message to employees acknowledging that he had been unfaithful to his wife and apologising to his family and colleagues. “There is no excuse for what I did. I am deeply sorry,” he wrote, adding that he took full responsibility for the hurt caused.

He also said he would cooperate with the board’s investigation and remained committed to protecting Nvidia and supporting US national security.

Nvidia shares plunge 12% in pre-market trade

The leadership uncertainty and controversy surrounding Huang weighed on Nvidia shares. The stock fell around 4.3% on November 9 after the company disclosed the board investigation and Huang's message to employees became public. Shares declined further in the following session before recovering 2.9% during regular trading on November 11, as broader technology stocks advanced.

However, the recovery proved short-lived. Nvidia shares fell more than 8% in after-hours trading on November 11 following reports that the board was preparing to remove Huang. The stock came under further pressure on November 12, tumbling 12% in pre-market trading to $152.89, down $20.84 from its previous close of $173.73, according to market data.

The transition comes ahead of Nvidia’s third-quarter fiscal 2027 results, scheduled for November 17. The company said the results announcement and earnings call would proceed as planned.

Kress, who joined Nvidia in September 2013, has nearly 25 years of prior finance experience, including roles at Cisco and Microsoft. The board said it expects operations, customer commitments and the product roadmap to continue without interruption during the leadership transition.