On October 29, The New York Times reported that U.S. intelligence viewed his close relationship with Alice Huang<\/strong> (no relation), a Chinese executive tied to Singapore-based Megaspeed (a major NVIDIA customer under investigation for possible diversion of advanced AI chips to China), as involving a Ministry of State Security asset. <\/strong>Photos from Taipei events dating to 2024, plus earlier classified memos (including one overseen by Secretary of State Marco Rubio), amplified national-security concerns about export controls and influence.<\/p>\n On November 8, Huang publicly admitted in a letter to employees that he had been \u201cunfaithful to my wife,\u201d <\/strong>apologized for the harm to his family, and linked it to the reports; NVIDIA\u2019s board launched an independent investigation. Shares fell sharply amid congressional requests for briefings and references to FBI scrutiny.<\/p>\n The crisis accelerated within days.\u00a0<\/strong><\/p>\n On November 11, the Times reported a second extramarital affair with Kimberly Powell<\/strong>,<\/a> NVIDIA\u2019s vice president of healthcare who reported to Huang (including accounts of affectionate behavior at a conference).<\/p>\n Reports that the board was meeting to consider ousting him <\/strong>sent shares plunging further (roughly 8% after hours that day, contributing to hundreds of billions in market-value losses over the period) and highlighted the lack of a clear succession plan after Huang\u2019s 33 years as co-founder and sole CEO.<\/p>\n This morning, the board announced his immediate resignation as President, CEO, and director.\u00a0<\/strong><\/p>\n CFO Colette Kress was named interim CEO (while retaining her finance role), Harvey C. Jones became the company\u2019s first-ever Chair, and a search for a permanent successor began, leaving the AI industry and markets in uncertainty.<\/p>\n NVIDIA (NASDAQ: NVDA) Board of Directors announced today that Jensen Huang has resigned as President, Chief Executive Officer, and a member of the Board, effective immediately.<\/strong><\/em><\/p>\n Colette Kress, current Executive Vice President and Chief Financial Officer of NVIDIA, has agreed to serve as Interim Chief Executive Officer.<\/strong> Kress will continue to serve as Executive Vice President and Chief Financial Officer while serving as Interim Chief Executive Officer until a permanent successor has been named. The Board is initiating a search for a permanent Chief Executive Officer and will consider internal and external candidates.<\/em><\/p>\n Kress has served as Executive Vice President and Chief Financial Officer of NVIDIA since joining the company in September 2013. During her tenure, she has led the company\u2019s finance organization and has played a key role in NVIDIA\u2019s growth and evolution. Prior to joining NVIDIA, Kress spent nearly 25 years in finance roles at leading technology companies, including Cisco and Microsoft.<\/em><\/p>\n The Board of Directors appointed Harvey C. Jones as its first-ever Chair of the Board.<\/strong> \u00a0Mr. Jones has been an entrepreneur, technology executive, and active venture investor for over 30 years, including serving as Chief Executive Officer and Executive Chairman of Synopsys.<\/em><\/p>\n \u201cColette has helped lead NVIDIA through a period of extraordinary growth and has a deep understanding of our business, customers, operations and financial position,\u201d said Harvey Jones, Chair of the NVIDIA Board of Directors. \u201cShe is supported by an experienced leadership team that has been instrumental in executing NVIDIA\u2019s strategy and advancing its technology roadmap.<\/strong> The Board has full confidence in Colette and the leadership team, and we expect the company\u2019s operations, customer commitments and product roadmap to continue without interruption.\u201d \u00a0<\/em><\/p>\n \u201cNVIDIA\u2019s strength has always come from its people, and together with our leadership team, I am committed to building on the extraordinary foundation Jensen created over the last 33 years,\u201d <\/strong>said Colette Kress, Interim CEO and CFO, NVIDIA. \u201cWe will continue advancing the work that has made NVIDIA a leader in accelerated computing and AI, and execute on the opportunities ahead. Our focus remains on serving our customers, partners, developers and shareholders.\u201d\u00a0<\/em><\/p>\n Jensen\u2019s contributions to NVIDIA are profound.<\/strong> NVIDIA is one of the most consequential technology companies in the world. The Board and the company thank Jensen for his immeasurable contributions to the company and the industry.<\/em><\/p><\/blockquote>\n The stock is down 10% from last night’s close, extending the losses overnight…<\/p>\n![\"\"](\"https:\/\/files.zhedge.com\/cdn-cgi\/image\/width=1920,quality=75,format=auto\/https:\/\/cms.zerohedge.com\/sites\/default\/files\/inline-images\/960x0_28.jpg\")
<\/a>Which brings us to today…<\/p>\n![\"\"](\"https:\/\/files.zhedge.com\/cdn-cgi\/image\/width=1920,quality=75,format=auto\/https:\/\/cms.zerohedge.com\/sites\/default\/files\/inline-images\/image_1794492482281.png\")
<\/a>Here is the full press release:<\/p>\n![\"\"](\"https:\/\/files.zhedge.com\/cdn-cgi\/image\/width=1920,quality=75,format=auto\/https:\/\/cms.zerohedge.com\/sites\/default\/files\/inline-images\/image_1794491560844.png\")
<\/a>That drags the share price to its lowest since July 2025 (more than 35% from its highs)…<\/p>\n![\"\"](\"https:\/\/files.zhedge.com\/cdn-cgi\/image\/width=1920,quality=75,format=auto\/https:\/\/cms.zerohedge.com\/sites\/default\/files\/inline-images\/image_1794492313369.png\")
<\/a>What happens next? Stay tuned, we are working on a summary of Wall Street views…<\/em><\/p>\n