Nvidia says Jensen Huang has resigned as president and CEO effective immediately
Chief Financial Officer Colette Kress has been appointed as interim CEO while keeping her existing roles
Nvidia shares fell 10% in US premarket trading after the announcement, adding to a decline that has wiped out about $600 billion in market value this week
Huang, 63, owns about 3.6% of Nvidia’s stock and has dozens of direct reports, underscoring the tight control he maintains over the company he co-founded
US President Donald Trump has called the Nvidia chief ‘an honorable guy’, while congressional leaders call for investigations into national security risks
The decision leaves the AI industry without its biggest champion and clouds the future of the chipmaker he built into an AI powerhouse.
Chief Financial Officer Colette Kress will take over as interim CEO as Nvidia looks for a permanent successor, the company said.
Huang, who co-founded Nvidia and is its fourth-largest investor with a stake of about 3.61%, will not remain on the board.
Pressure has been mounting on Huang in recent days after reports said the 63-year-old, who is married, had an affair with a Chinese businesswoman who US authorities suspect of spying for Beijing.
Nvidia’s board met on Wednesday to consider his ouster, a person familiar with the matter said, after reports earlier in the day that Huang also had an extramarital affair with a senior company executive who reported to him.
Huang’s exit plunges the $4 trillion company into uncertainty and threatens to disrupt an AI ecosystem that he helped bankroll by pouring Nvidia’s swelling cash pile back into cloud providers, suppliers and the industry’s biggest labs.
The departure could also have far-reaching consequences for US chip export policy, given Huang’s push to preserve access to the Chinese market and his close ties with Trump.
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