Nvidia CEO Huang Resigns; Kress Interim CEO in 2026

Nvidia CEO Jensen Huang resigned effective immediately, CFO Colette Kress is interim chief, and the stock fell as market value dropped below $4 trillion.

Lead

What Happened at Nvidia?

The board met Wednesday night to weigh Huang's future and announced his exit the next morning. The release carried no statement from Huang. Board Chair Harvey C. Jones, who holds the newly created chair role, said the board has "full confidence in Colette and the leadership team."

Huang had apologized on Sunday for being "unfaithful to my wife," without giving details. U.S. officials suspect the woman, a former executive at Singapore-based Megaspeed, of working for Chinese intelligence. Megaspeed is a key Nvidia partner in Southeast Asia and has been examined over whether it helped Chinese firms reach a $4.8 billion stock of advanced Nvidia chips. Separate allegations involve a relationship with a Nvidia vice president who reported to Huang. The FBI, Congress and Nvidia's own outside counsel are reviewing the matter, and shareholder litigation has followed.

Why Did Nvidia Shares Fall Below $4 Trillion?

Nvidia shares fell below $4 trillion because investors lost the executive who built the company and now face a national security overhang on top of it. The stock opened down more than 10% and traded near $160, against a Wednesday close of $173.73, and had already slid about 5.5% on Tuesday as the scandal widened. Nvidia has shed more than $600 billion in market value this week. The Nasdaq fell about 0.6%, a sign that the damage was concentrated in one name rather than across ai stocks as a group.

Huang's role extended beyond operations. He was the public face of Nvidia's relationships with hyperscalers, sovereign customers and governments. His departure comes as Washington restricts advanced chip sales to China, which puts any link to a Nvidia partner under close scrutiny.

What Comes Next for Nvidia's Leadership?

The board has started a CEO search that will consider internal and external candidates. Kress, a veteran of Microsoft, Cisco and Texas Instruments before joining Nvidia, provides continuity on financial reporting and capital allocation. Her interim appointment does not settle questions over product strategy and customer relationships, which Huang personally led for more than three decades.

The nearest test is the company's quarterly results on Nov. 17, with the release at 1:20 p.m. PT and the call at 2 p.m. PT. It will be the first report under interim leadership. Investors will look for guidance on data center demand and any disclosure on the government inquiries, export compliance and Megaspeed exposure.

Strategic Context

The episode combines governance and geopolitics. U.S. lawmakers have pressed chipmakers to tighten controls on distributors and resellers in Asia. An inquiry into a partner's alleged role in diverting chips to China could bring tighter licensing, audits of channel partners or restrictions on sales in Southeast Asia, all of which bear on Nvidia's revenue mix.

Outlook

Nvidia enters its first post-Huang period with an interim CEO, active federal and congressional inquiries, and a market value that has dropped below $4 trillion. The Nov. 17 earnings report and the pace of the CEO search are the next defining events. Regulatory findings on Megaspeed and export compliance will shape how far the damage extends beyond the leadership change.