Nvidia CEO Jensen Huang resigns, CFO named interim CEO

Nvidia said on Thursday that CEO Jensen Huang was stepping down, leaving the AI industry without its biggest champion and clouding the future of the chipmaker he built into an AI powerhouse.

Resignation and leadership change

Nvidia says Jensen Huang has resigned as president, chief executive officer, and a member of the board, effective immediately. Chief Financial Officer Colette Kress will take over as interim CEO.

Timeline of events

A controversy surrounding Huang and the chipmaker’s China business has spiraled into a national-security and political storm, drawing scrutiny from lawmakers, the company’s board and investors. The fallout has also intensified a long-running debate in Washington over whether the U.S. should allow its most advanced AI chips to be sold to China.

Key developments from the timeline:

• March 2023: 7Road International changes its name to Megaspeed International as it expands its cloud-computing business focused on AI infrastructure.
• June 2024: Jensen Huang and Alice Huang, a business executive later linked to Megaspeed, are photographed together during the Computex conference in Taiwan. They are not related.
• October 2025: The New York Times reports that Alice Huang and Jensen Huang were seen socializing together, marking the first public link connecting the two. The report also says federal investigators are examining Megaspeed’s activities and potential exports of advanced chips to China.
• November 8: Jensen Huang tells Nvidia employees he has been unfaithful to his wife, without disclosing details of the relationship. Nvidia board launches an independent investigation into reports the CEO was targeted by a foreign intelligence effort.
• November 10: Nvidia board retains Wachtell Lipton partner and former acting U.S. Attorney of the Southern District of New York, Joon Kim, whose practice includes internal investigations and white-collar defence, to lead the probe. Republican U.S. Senator Kevin Cramer calls for Jensen Huang’s resignation, and Senate Democratic Leader Chuck Schumer calls on Congress to pass the AI Overwatch Act, which would give Congress power over advanced chip exports.
• November 11: The CEO also had an extramarital affair with Kimberly Powell, Nvidia’s vice president of healthcare, who reported to him, NYT reports. Nvidia board met to decide whether to oust Jensen Huang, Reuters reports, citing a source familiar with the matter.
• November 12: Nvidia says Jensen Huang has resigned as president, chief executive officer, and a member of the board, effective immediately.

Nvidia and Jensen Huang are sued in a proposed class action accusing them of defrauding shareholders by concealing Huang’s ties with a suspected Chinese spy.

Why it matters

Huang’s resignation removes the leader most closely associated with Nvidia’s rise as an AI chipmaker. The board’s independent investigation, the shareholder class action, and congressional calls for restrictions on chip exports to China all add uncertainty to the company’s future.

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Sources

• cnbc.com: ‘It had to happen’ — Jim Cramer on Jensen Huang’s resignation and future for Nvidia stock
• bnnbloomberg.ca: Timeline: How Nvidia CEO Jensen Huang got entangled in a spy scandal

This article was drafted with AI assistance and checked against the sources above. Company claims are reported as claims. Cover image is AI-generated.