SANTA CLARA, California. Nvidia announced on Thursday that Jensen Huang, who co-founded Nvidia in 1993 and led it for 33 years, had resigned as president, chief executive and board member, effective immediately. Nvidia said finance chief Colette Kress will serve as interim chief executive while the board searches for a permanent successor. The company gave no reason for the change.
The exit follows a Wednesday report by The Wall Street Journal that the board was preparing to oust Huang. Reuters reported the board met Wednesday night to consider removing him. The reports followed Huang’s admission on Sunday that he had been unfaithful, a board investigation, and a second reported affair with an Nvidia executive. Zark News reported the Journal’s report that the board was preparing to oust Huang in its story on the board’s move and the 8 percent fall in Nvidia shares, and the inquiry in its November 9 report.
Why it matters
Nvidia’s chips are the central hardware behind the global build-out of artificial intelligence, and Huang was its public face, its largest individual shareholder with about 3.6 percent, and a leader with no named successor. He ran about 60 direct reports and said he did not believe in succession planning, according to the Journal. The leadership question therefore arrives with a national security question: whether a company whose advanced chips are barred from export to China was exposed through its chief executive’s personal relationships.
What we know
- The resignation is confirmed. TechCrunch, citing the company’s regulatory filing, said the board accepted Huang’s resignation on Wednesday. The Journal’s headline described the exit as an ouster. Reuters reported the board met Wednesday night to consider removing him. Kress will serve as interim chief executive while continuing as executive vice president and chief financial officer, and the board will consider internal and external candidates.
- The board has a chair for the first time. Nvidia appointed Harvey C. Jones as its first ever chair. Jones said the board has full confidence in Kress and expects no interruption to operations or the product roadmap, according to Zark News’s updated report.
- Two relationships are at the center of the reporting. Huang’s Sunday letter concerned Alice Huang, then a top executive at Singapore-based Megaspeed International, a Nvidia customer, according to the Journal. On Wednesday, The New York Times reported a second relationship, with an Nvidia executive who reports to Huang. The Journal identified her as Kimberly Powell, who runs Nvidia’s healthcare business. Powell did not respond to requests for comment, the Journal said.
- Markets have reacted sharply. Shares fell about 8 percent after hours on Wednesday, more than 10 percent in premarket trading on Thursday, and about 6.5 percent in morning trading at $162.31, according to Barron’s. The Journal said the shares are down roughly 30 percent in the past month.
- Washington is now involved. The chairmen of three House committees wrote to Huang on Monday raising national security concerns, and lawmakers are discussing testimony from Huang behind closed doors next week, according to the Journal. Senators Elizabeth Warren and Chris Coons wrote on Wednesday to Commerce Secretary Howard Lutnick, Secretary of State Marco Rubio and White House chief of staff Stephen Miller asking them to preserve all records tied to Nvidia’s China exports and the affair, The Wall Street Journal reported. President Donald Trump posted on Truth Social suggesting Apple’s Tim Cook as a replacement. It is Trump’s suggestion alone; neither Apple nor Cook has commented, and the board will decide.
What we still don’t know
- What the board’s investigation found. The board said on Sunday that it had no reason to believe company secrets or national security were compromised, and opened an independent inquiry. Thursday’s announcement reported no findings and gave no reason for the resignation. Whether that earlier assurance still stands is not known.
- Whether information or chips actually reached China improperly. U.S. officials believe Alice Huang was working for China’s intelligence services, according to the Journal. That is a reported U.S. official assessment, not a proven finding. China has denied the accusations, and Megaspeed has denied wrongdoing. No investigation result has been published.
- Who will lead Nvidia permanently, and when. The board will consider internal and external candidates. No timeline or shortlist has been announced.
- What happens next for the other people involved. Nvidia has not said whether the executive named in the second reported relationship remains in her role. No charges or findings from the federal investigations have been announced in the reporting reviewed.
What’s next
The board’s search is the immediate question, alongside congressional interest in Huang’s testimony. Kress will host a company meeting on November 18, according to the Journal. Nvidia’s third-quarter earnings remain set for Tuesday, November 17. Any public findings from the board inquiry or the federal investigations would change the picture again.
Timeline
- October 2025: The New York Times first reported on the business connection between Jensen Huang and Alice Huang, according to The Wall Street Journal.
- Late October 2026: The New York Times reports that United States intelligence agencies believed Alice Huang had been recruited by China’s Ministry of State Security and that she had a close relationship with Jensen Huang. Reuters has not independently verified that allegation, and China denies it.
- Sunday, November 8, 2026: Huang writes to staff acknowledging he was unfaithful and apologizing. The board says it has no reason to believe secrets were compromised, expresses confidence in Huang, and opens an independent inquiry.
- Monday, November 9, 2026: The chairmen of three House committees write to Huang raising national security concerns and seeking his testimony, according to Zark News reporting.
- Wednesday, November 11, 2026: The Times reports a second affair. The Journal reports the board is preparing to oust Huang. Shares fall about 8 percent after hours. The board accepts his resignation.
- Thursday, November 12, 2026: Nvidia announces the resignation, effective immediately. Kress becomes interim chief executive, Jones becomes the board’s first chair, and the permanent search begins.
