Nvidia board prepares to oust CEO, name interim chief
The Scoop Some members of Nvidia’s board favor appointing Chief Financial Officer Colette Kress as interim CEO at the beleaguered chipmaker if CEO and founder Jensen Huang is ousted, according to people familiar with the matter.
Key points
- The Nvidia board briefed the White House on its planned meeting, according to a senior administration official.
- Top Democrats go after White House Democratic senators Chris Coons and Elizabeth Warren sent a letter to members of Trump’s cabinet on Wednesday asking them to preserve documents related to Nvidia’s chip exports to China or entities that could divert such chips to the country.
- They also asked Commerce Secretary Howard Lutnick, Secretary of State Marco Rubio, and White House Chief of Staff Stephen Miller to preserve documents and communications concerning Huang, the suspected Chinese operative he had an affair with, and correspondence between Huang and President Trump.
Semafor earlier confirmed that Nvidia’s board is preparing to oust Huang as soon as Wednesday, after media reports detailed that he had a second extramarital affair.
Additional details
- Nvidia has tapped an outside search firm to find the company’s next CEO, Bloomberg reported.
- The $4 trillion company’s long-tenured board announced a Wachtell Lipton-led probe into whether Huang may have divulged corporate secrets or endangered US national security.
- In addition to providing many of the most advanced chips for hyperscalers, Nvidia has entered into billions of dollars worth of financing deals underwriting the AI buildout.
- The full board has yet to make a decision but the company’s directors are scheduled to meet Wednesday evening, these people said.
- Whirlwind saga Nvidia’s stock fell more than 8% in after-hours trading, hitting a 52-week low.
How this summary was made: extractive summary — built from the sources' own reporting. It is drawn only from the reporting of the sources listed below — read the originals for full detail. How we summarize →
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