Nvidia names CFO Colette Kress interim CEO as Huang’s relationships, China-related security concerns and congressional scrutiny shake the chipmaker.
Jensen Huang resigned as Nvidia’s president and chief executive on Thursday, November 12, ending a 33-year run leading the chipmaker he co-founded. His departure followed reports of two extramarital relationships, including one with a former technology executive whom U.S. authorities suspect of spying for China.
Nvidia named longtime Chief Financial Officer Colette Kress as interim CEO while its board searches for a permanent replacement. The company also appointed director Harvey C. Jones as the first chair of its board.
Nvidia Begins Search for a Permanent CEO
Nvidia said Huang resigned as president, CEO and a member of the board effective immediately. Kress, who joined Nvidia in 2013, will continue serving as chief financial officer while also acting as interim chief executive.
The board said it will consider both internal and external candidates for the permanent job. Jones said the company expects its operations, customer commitments and product roadmap to continue without interruption during the transition.
Huang co-founded Nvidia in 1993 with Chris Malachowsky and Curtis Priem. The company first became widely known for graphics processors used in gaming, then emerged as the dominant supplier of chips used to train and run advanced artificial intelligence systems.
That shift made Nvidia one of the world’s most valuable public companies. Its market capitalization approached $6 trillion in October before falling below Apple’s as investors became more cautious about spending on artificial intelligence infrastructure.
Affairs Triggered Corporate and Security Scrutiny
Pressure on Huang intensified after reports about his relationship with Alice Huang, also known as Huang Le, a former executive at Singapore-based Megaspeed International. U.S. authorities suspect she passed information to Beijing, although the U.S. Justice Department has not publicly reached a final determination that she was a Chinese spy.
China has rejected the espionage allegations. Megaspeed has said it takes U.S. export-control obligations seriously and has cooperated with inspections by American authorities.
Nvidia previously said it had no reason to believe national security information or company secrets were compromised. The board nevertheless opened an independent investigation into Huang’s conduct and the broader circumstances surrounding the relationship.
A second controversy emerged when reports said Huang also had a relationship with an Nvidia executive who reported to him. Reuters later reported that Huang had a relationship with a second Nvidia employee, adding to pressure on the board before his resignation.
Huang had already acknowledged being unfaithful to his wife. In a public apology reported before his resignation, he said his actions hurt his wife and children and that there was no excuse for what he had done.
Chip Controls Add to National Security Concerns
The controversy has drawn unusual attention because Nvidia’s most advanced processors are subject to U.S. export restrictions aimed at limiting China’s access to high-end artificial intelligence technology. Huang had also become an influential voice in Washington while arguing that Nvidia should be allowed to sell more advanced products to Chinese customers.
Megaspeed has faced separate scrutiny over whether Nvidia chips were diverted or re-exported in ways that could have bypassed U.S. controls. Singapore and Malaysia are examining aspects of the company’s activities, although authorities have not established that Alice Huang personally committed an export-control offense.
Singapore’s Home Affairs Ministry said authorities had investigated Alice Huang and other individuals in connection with Megaspeed. It said there was insufficient evidence to establish certain suspected offenses, while investigations involving the company and several people remained ongoing.
Malaysia said Friday that it was checking whether chips imported by a Megaspeed unit were later re-exported and whether any such shipments complied with local law. Malaysian Prime Minister Anwar Ibrahim said there was no indication at that point that chips linked to Megaspeed had been shipped out of Malaysia.
Trump Suggests Tim Cook as Huang’s Replacement
President Donald Trump praised Huang after the resignation and publicly suggested former Apple CEO Tim Cook as a possible successor. Cook stepped down as Apple’s CEO in September and now serves as the company’s executive chairman.
Trump had defended Huang earlier in the week after reports about the alleged spy relationship surfaced. He said Huang told him he did not know the woman was suspected of working for Chinese intelligence.
There is no indication that Nvidia’s board is considering Cook because of Trump’s suggestion. The company said only that it is evaluating both internal and external candidates.
Congressional Scrutiny Is Expanding
The resignation has not ended Washington’s interest in Huang or Nvidia. On Friday, Senate Banking Committee Chairman Tim Scott called for Huang and Commerce Secretary Howard Lutnick to testify about national security concerns involving Nvidia and China, according to Reuters.
Scott said he would consider subpoenaing Huang if the former CEO did not appear voluntarily. House committee leaders have also sought closed-door interviews with Huang and other Nvidia officials as lawmakers examine export controls, corporate security and the government’s handling of the reported intelligence concerns.
Separately, Senators Elizabeth Warren and Chris Coons asked the administration to preserve records involving Nvidia, Megaspeed and decisions about advanced chip exports. Their letter requested confirmation by November 17 that preservation orders had been issued.
Nvidia Faces Its First Leadership Change
Huang’s departure leaves Nvidia without the executive who led the company throughout its entire history. He remained closely involved in product strategy, engineering and relationships with major customers even as Nvidia grew into one of the largest companies in the world.
The transition comes as investors are already debating how long the enormous wave of spending on artificial intelligence data centers can continue. Nvidia shares closed Thursday at $166.19, down 4.3%, after much steeper losses earlier in the session.
Kress will now lead the company through its next earnings report while the board searches for a permanent chief executive. Nvidia is scheduled to report fiscal third-quarter 2027 results on Tuesday, November 17, giving investors their first major financial update since Huang’s departure.
IMAGE: Jensen huang Source Own work Author Anderseidesvik CC4