AI & Tech

Nvidia’s Jensen Huang resigns, CFO Colette Kress named interim CEO

Nvidia CFO Colette Kress is taking over as an interim replacement for longtime CEO Jensen Huang, who is embroiled in scandal.

✦ Extractive summary — built from the sources' own reporting•From 7 sources•2 min read•Updated November 12, 2026, 5:54 PM UTC

Key points

Nvidia’s value slumps by $888bn this week as scandal over longtime CEO’s two affairs, including with a suspected Chinese spy, engulfs chip maker Analysis: Jensen Huang built an AI kingdom.
Nvidia’s board weighed dismissing CEO Jensen Huang, a dizzying fall from grace for a titan whose seemingly unassailable position was upended by the scandal surrounding his affair with an alleged Chinese spy.
The disclosure comes as lawmakers press the Trump administration on its investigation into Megaspeed, the Singapore firm at the center of the Jensen Huang spy scandal, amid reports that the Commerce Department has delayed efforts to blacklist the company suspected of smuggling Nvidia chips to China.

On Thursday, Nvidia announced Huang’s resignation and named finance chief Colette Kress interim CEO, adding that the board is searching for a permanent successor and will consider internal and external candidates.

Huang, who was ousted as CEO following reports of an alleged affair with a woman suspected of spying for China, agreed to testify Wednesday after several senior lawmakers threatened to subpoena him.

Additional details

The semiconductor giant has reportedly tapped an outside search firm to find a new CEO to take over; Semafor reported that some board members favor appointing the current CFO as an interim replacement and hiring a COO as well.
Full report: Jensen Huang resigns as Nvidia CEO Too big – and too well-connected – to sack?
Chief financial officer Colette Kress in in charge of Nvidia for now, but several others are in the frame as potential successors.
US restrictions have accelerated Beijing’s efforts to develop homegrown semiconductors — independence that will allow it “to scale faster than the US,” Semafor’s tech editor argued: Nvidia, crucial to the US’ advantage, will be “ fundamentally weakened ” without Huang.
On the other hand, Nvidia’s board does not appear to have spent much time worrying about succession planning and “key person risk” or other standard concerns of corporate governance wonks outside the US.

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 →

Every article behind this summary — 14 articles from 7 outlets

Nvidia’s Jensen Huang resigns, CFO Colette Kress named interim CEO

Every article behind this summary — 14 articles from 7 outlets

Related stories

Jensen Huang’s downfall cut the P/E of Nvidia stock by a third. But don’t call it a bargain yet

Can Nvidia survive without Jensen Huang?

Binance hackers stole $6.3 billion in record-breaking crypto heist