Jensen Huang Resigns as Nvidia CEO
Jensen Huang has resigned as president and chief executive officer of Nvidia with immediate effect, ending his 33-year run at the helm of the world’s most valuable artificial intelligence chipmaker. Nvidia confirmed the decision in a company statement on Thursday, November 12, 2026, saying chief financial officer Colette Kress will serve as interim CEO while the board searches for a permanent successor.
Huang, who co-founded Nvidia in 1993, has also stepped down from the company’s board of directors. The board has appointed Harvey C. Jones, a former Synopsys chief executive, as its first-ever chair. Kress will continue in her role as executive vice president and chief financial officer while she leads the company on an interim basis.
Why Huang stepped down
Nvidia’s official statement gave no reason for the resignation. However, the exit follows weeks of mounting controversy around Huang. Reports in recent days alleged that Huang had two extramarital relationships, including one with Alice Huang, a former senior executive at Singapore-based data firm Megaspeed, whom United States intelligence officials suspect of having links to Chinese intelligence.
Huang admitted in a message to employees on November 8 that he had been unfaithful to his wife and apologised to his family and colleagues. On the same day, Nvidia announced that independent directors, assisted by outside legal counsel, would oversee an investigation into whether Huang had been the target of a foreign intelligence operation. Reuters reported that the board met on Wednesday, November 11, to consider removing him.
The allegations about espionage links remain unproven claims reported by news outlets, and Beijing has denied them. The full picture of what the board’s investigation found has not been made public.
Shares fall as AI industry loses its biggest champion
Investors reacted sharply to the news. Nvidia shares fell more than 10 percent in premarket trading on Thursday, dragging the wider market lower. The company is worth around $4 trillion and sits at the centre of the global artificial intelligence boom, supplying the advanced chips that power AI data centres around the world.
Reuters described Huang’s departure as a major blow to the AI boom, noting that he had become the industry’s most prominent champion. Huang owns about 3.6 percent of Nvidia’s stock and is its fourth-largest investor. He had previously said he did not believe in succession planning, which leaves the board with no obvious internal successor. The search for a permanent chief executive will consider both internal and external candidates.
What happens next
Nvidia will report its third-quarter fiscal 2027 results on Tuesday, November 17, as previously scheduled, followed by an earnings call with investors. That will be the first major test of confidence in the company under its new interim leadership.
The resignation closes a remarkable chapter in technology history. Under Huang, Nvidia grew from a graphics-chip startup into the world’s leading AI chipmaker, and Huang himself became one of the most recognisable figures in the global technology industry. The question now is whether the company can maintain its dominance without the founder who built it.
For background on the controversy that preceded this decision, see our earlier report: Jensen Huang scandal: Nvidia opens investigation. The wider market context is covered here: Wall Street rout: Nasdaq falls 5.52 percent.
Source: Reuters, USA Today, The Economic Times, Business Standard — 12 November 2026.