Jensen Huang has stepped down from his role as president, chief executive officer and board member of Nvidia, effective immediately. The move concludes more than three decades at the helm of the artificial intelligence processor company. Colette Kress, the company's longtime Chief Financial Officer, will serve as interim CEO, while Harvey C. Jones takes on the newly created position of board chairman.
The resignation follows by four days a board statement expressing confidence in Huang while announcing an independent investigation into claims that he had been targeted by a foreign intelligence operation. Nvidia did not explain Huang's departure or disclose any findings of wrongdoing.
The leadership upheaval stems from investigative reporting about Huang's personal relationships. On November 8, Huang apologised to staff, acknowledging infidelity and accepting responsibility for harm to his family. News accounts have linked him to Alice Huang, a businesswoman connected to Singapore-based Megaspeed International, a buyer of Nvidia processors. Reports have suggested Alice Huang had ties to Chinese intelligence and raised concerns about whether the relationship could have enabled access to sensitive data or shaped the company's China-related business decisions. These allegations remain unproven through official public findings. China's Foreign Ministry has dismissed the espionage claims as baseless.
On November 10, Nvidia's independent directors engaged former acting U.S. Attorney Joon H. Kim and law firm Wachtell, Lipton, Rosen & Katz to lead the inquiry. The board stated on November 8 that it had no evidence company secrets or national security had been compromised.
The crisis deepened when additional reporting surfaced allegations of a second extramarital relationship involving an Nvidia executive who reported to Huang. Reuters then reported the board was weighing his future as directors considered his possible removal.
Nvidia supplies the processors underpinning AI systems deployed by OpenAI, Microsoft, Google, Amazon and Meta, making it foundational to the global artificial intelligence industry. Its technology reaches into cloud computing, autonomous vehicles, robotics and scientific research. The company sits at the centre of U.S.-China technological competition, with advanced AI chips viewed as critical to economic strength, military power and national security. The U.S. government has restricted exports of Nvidia's most advanced processors to China.
Three House committee chairs requested Huang appear for a confidential congressional briefing on November 18. House Foreign Affairs Committee Chairman Brian Mast, House Select Committee on China Chairman John Moolenaar and House Intelligence Committee Chairman Rick Crawford made the request on November 5, asking for his response by November 11. As of Thursday morning, no public announcement confirmed an agreed date or subpoena.
Kress, executive vice president and CFO since September 2013, will maintain her financial duties while leading the company as interim chief executive. The board is searching for a permanent replacement from both inside and outside the organisation. Nvidia shares fell more than 8 percent in extended trading Wednesday and dropped more than 7 percent in Thursday premarket trading. The company will release third-quarter fiscal 2027 results on Tuesday, November 17, followed by an earnings call.
Comments
No comments yet. Be the first.