Nvidia CEO Jensen Huang resigns after allegations; Colette Kress named interim chief

Leadership exit and interim cover

Nvidia's board announced on Thursday, 12 November, that Jensen Huang is leaving his posts as president, chief executive and board member, with effect from immediately. Huang co-founded the company in 1993 and led it for 33 years, taking it to the top of the global market for AI processors. The company has started a search for a permanent successor and is weighing candidates both inside the firm and in the wider market. Colette Kress, the chief financial officer, becomes interim chief executive and keeps her existing roles as executive vice president and CFO.

The allegations behind the exit

The resignation follows reports of extramarital relationships involving Huang. A businesswoman, identified in the reports as Alice Huang, is considered suspect by US intelligence officials over possible links to Chinese intelligence services. Separate allegations say advanced Nvidia chips may have reached Chinese companies despite US export restrictions. The sources present these claims as allegations, not as established findings.

Share price and market value

Nvidia shares fell 13% at the open on Thursday according to NewsIT, while in.gr put the drop at more than 12%. The fall pushed the company's market value below $4 trillion for the first time since July 2025. Through Wednesday, 11 November, the company had lost $640 billion, or 14%, in the week, and the opening drop was set to nearly double that figure. Shares closed Wednesday at $173.73, a market value of $4.2 trillion, after dipping below $165 during the session. On Thursday the stock slid to $148.8 on Nasdaq before recovering toward $160, and shortly after 19:00 Greek time it traded near $164.

Wednesday, 11 November close173.73

Thursday, 12 November, Nasdaq148.8

Wednesday, 11 November close

173.73 USD

Thursday, 12 November, Nasdaq

148.8 USD

Data from the article text

Washington scrutiny

US lawmakers have turned their criticism on Commerce Secretary Howard Lutnick, a long-time friend of President Trump. The criticism centres on his refusal to add dozens of Chinese companies to a trade blacklist and on whether his department adequately supervised Nvidia's chip exports to China. That criticism predates Huang's resignation. Senators Elizabeth Warren and Chris Coons, who take over the Senate Banking and Foreign Relations committees in January, wrote to Lutnick, Secretary of State Marco Rubio and White House chief of staff Stephen Miller. They asked the government to preserve all documents on Nvidia's advanced AI chip exports to China and the related national security risks. Trump has publicly suggested former Apple chief executive Tim Cook as a suitable successor.

Investors and analysts

Norway's Government Pension Fund Global held about $65.2 billion of Nvidia stock at the end of June 2026, according to Norges Bank Investment Management data. That stake of 325.95 million shares, or 1.28% of the company, was the fund's largest single equity investment. Bernstein analyst Stacy Rasgon wrote to clients on Thursday that the revelations so far may be only the tip of the iceberg, and he said it is now hard to recommend large positions. KeyBanc's John Vinh argued that Huang's exit raises strategic, organisational and operational risk, which justifies a higher risk premium and a lower valuation multiple. Several brokerages have downgraded the stock. Analysts still expect Nvidia's revenues to more than double in the current fiscal year.

Precedents in corporate scandals

Sex-related scandals have ended several chief executives' tenures in the technology sector. Mark Hurd was dismissed by HP in 2010 after its board found he had concealed the use of company funds and kept a close personal relationship with an outside contractor. In 2018 Brian Krzanich resigned from Intel after the company learned of a past consensual relationship with an employee. Nvidia's code of conduct asks employees to avoid situations where their actions create a conflict, including personal relationships.