Jensen Huang Resigns as Nvidia CEO, Shares Fall 10% Pre-Market
Jensen Huang has stepped down as Nvidia CEO and left its board after 33 years, three days after the board opened an outside probe into reports he was a foreign intelligence target. CFO Colette Kress becomes interim CEO and director Harvey Jones becomes the company's first board chair; shares fell about 10% pre-market, extending two weeks of losses to roughly $1.4T. Huang resisted succession planning, leaving dozens of direct reports and no clear No. 2, while the next CEO inherits about $100B in investments including a planned $10B Anthropic share purchase at its IPO next week.
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Rohan Paul (@rohanpaul_ai) · 2026-11-12 14
Jensen Huang resigned as Nvidia’s CEO and left its board, ending more than 33 years running the company.
Finance chief Colette Kress becomes interim CEO, and director Harvey Jones becomes Nvidia’s first-ever board chair.
The exit came 3 days after the board opened an outside probe into reports that Huang was a foreign intelligence target.
US officials suspect Alice Huang, with whom he had an affair, of spying for China while working at a firm that moved restricted Nvidia chips there.
Further, yesterday, The New York Times reported a second affair, with an executive who reported directly to him.
Shares fell about 10% before the open, which would lift 2 weeks of losses to roughly $1.4T.
Huang had resisted succession planning, so he leaves dozens of direct reports, no clear No. 2 and an earnings call next week.
Nvidia’s next CEO will oversee its $100B of investments in other companies, including a planned $10B purchase of Anthropic shares when it goes public next week.
