Jensen Huang Resigns as Nvidia CEO Amid Scandal and AI Chip Probe

Jensen Huang resigns as Nvidia CEO after 33 years amid personal scandals and a DOJ chip probe. Colette Kress becomes interim CEO as Nvidia stock drops 4.3% abruptly.

News Source: https://www.bloomberg.com/

On November 12, 2026, Jensen Huang resigned as President, CEO, and board member of Nvidia, causing a dramatic upheaval in the world of technology. Wall Street and Silicon Valley are scrambling to assess the future of the artificial intelligence boom as his surprise departure ends a remarkable 33-year career as head of the semiconductor behemoth he co-founded.

The Nvidia Board of Directors promptly designated former Chief Financial Officer Colette Kress as interim CEO in addition to her current CFO responsibilities in order to preserve stability. Harvey C. Jones, an experienced board member, was also appointed as Nvidia's first Chair of the Board to supervise operations while the business formally searches the world for a permanent chief executive. Jensen Huang's exit comes after a difficult week marked by increasing national security scrutiny and personal issues. Following rumors of an adulterous affair with Alice Huang, an executive at Singapore-based data provider Megaspeed, Jensen Huang apologized to staff members earlier this week. The Department of Justice is looking into whether Megaspeed unlawfully transported restricted Nvidia AI processors into China because U.S. intelligence agents believe she has connections to Chinese espionage.

Reports of a separate extramarital affair between Huang and Kimberly Powell, a direct subordinate in charge of Nvidia's healthcare branch, emerged on Wednesday night, aggravating the situation. Jensen Huang resigned with immediate effect in response to an internal board probe headed by outside legal counsel. He expressed sincere apologies to employees and shareholders and stated that Nvidia should have leadership that is free from distraction. The unanticipated leadership vacuum caused a significant reaction in the financial markets. At Thursday's market start, Nvidia's stock fell as high as 13%, but it recovered to settle down 4.3%, wiping off more than $180 billion in market value. As institutional investors diversified their artificial intelligence holdings, shares of competing chipmakers Broadcom and AMD increased gradually.

Washington has also been affected politically. Before Thanksgiving, Jensen Huang has consented to speak before US senators about his connection to Alice Huang and Nvidia's export regulations. Additionally, President Donald Trump expressed his opinion, calling Jensen Huang a close friend "going through hell" and openly endorsing former Apple CEO Tim Cook as a possible successor. Interim CEO Colette Kress reassured stakeholders and global enterprise clients that Nvidia's next-generation product roadmap is still firmly on track despite the abrupt management instability. Investors around the world are now looking forward to Nvidia's third-quarter financial results on Tuesday, November 17, which will be Wall Street's first significant confidence test since the Jensen Huang era.

FAQs:

Q: Why did Jensen Huang resign as Nvidia CEO?

A: Jensen Huang stepped down effective immediately on November 12, 2026, following reports of two extramarital affairs and an escalating national security investigation involving alleged illegal chip smuggling to China.

Q: Who is the new CEO of Nvidia?

A: The Nvidia Board of Directors promptly designated former Chief Financial Officer Colette Kress as interim CEO in addition to her current CFO responsibilities in order to preserve stability.

Q: How long was Jensen Huang the CEO of Nvidia?

A: Jensen Huang led Nvidia for 33 years after co-founding the company in 1993.

Q: How did Nvidia stock react to Jensen Huang's resignation?

A: At Thursday's market start, Nvidia's stock fell as high as 13%, but it recovered to settle down 4.3%, wiping off more than $180 billion in market value.

Q: What did Donald Trump say about Nvidia's next CEO?                 

A: President Donald Trump expressed his opinion, calling Jensen Huang a close friend "going through hell" and openly endorsing former Apple CEO Tim Cook as a possible successor.