Nvidia CEO Jensen Huang resigns in big blow to AI boom

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Chief Financial Officer Colette Kress will take over as interim CEO as Nvidia looks for a permanent successor, the company said on Thursday (Nov 12). Jensen Huang, who co-founded…

Chief Financial Officer Colette Kress will take over as interim CEO. Jensen Huang, who co-founded Nvidia, will not remain on the board.

Nvidia CEO Jensen Huang is stepping down, leaving the AI industry without its biggest champion and clouding the future of the chipmaker he built into an AI powerhouse.

Chief Financial Officer Colette Kress will take over as interim CEO as Nvidia looks for a permanent successor, the company said on Thursday (Nov 12). Huang, who co-founded Nvidia and is its fourth-largest investor with a stake of about 3.61 per cent, will not remain on the board.

Nvidia shares fell more than 10 per cent in premarket trading, putting its market value on course to drop below US$4 trillion for the first time since July 2025.

Pressure has been mounting on Huang in recent days after reports said the 63-year-old, who is married, had an affair with a Chinese businesswoman who US authorities suspect of spying for Beijing.

Nvidia has lost about US$300 billion in market value since the board announced an investigation on Sunday into Huang’s relationship with Alice Huang.

The board met on Wednesday to consider his ouster, a person familiar with the matter said, after reports earlier in the day that Huang also had an extramarital affair with a senior company executive who reported to him.

In a statement on its website, Nvidia said that interim CEO Kress will continue to serve as executive vice president and chief financial officer until a permanent successor has been named.

"We will continue advancing the work that has made Nvidia a leader in accelerated computing and AI, and execute on the opportunities ahead. Our focus remains on serving our customers, partners, developers and shareholders,” Kress said.

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