Jensen Huang is out. The man who built Nvidia has resigned as CEO after 33 years.
CFO Colette Kress is now interim CEO. Here is what happened, why the stock crashed, and what comes next.
Jensen Huang has resigned as Nvidia's president, CEO and board member, effective immediately. Nvidia announced the news on Thursday, November 12, 2026. A filing with the US markets regulator (SEC) shows the board accepted his resignation one day earlier, on November 11.
It is a shocking end for the man in the black leather jacket. Huang co-founded Nvidia in 1993 and turned it into one of the most valuable companies on Earth, powering the AI boom. Nvidia's official statement gave no reason for his exit. But it came just four days after he admitted to an affair and the board opened an investigation.
- 🚪 Jensen Huang left as CEO, president and board member, effective immediately.
- 👩💼 Colette Kress, CFO since 2013, is interim CEO. She stays CFO too.
- 🪑 Harvey C. Jones becomes Nvidia's first-ever Chair of the Board.
- ❓ Nvidia's statement gave no reason for the resignation.
- 📉 The stock fell as much as 13–14% on Thursday, then closed down 4.34%.
- 📅 Nvidia still reports earnings on Tuesday, November 17.
What did Nvidia officially say?
The press release was short and careful. It said Huang resigned from all his roles, effective immediately. The board will search for a permanent CEO and will look at people inside and outside the company.
New board chair Harvey Jones said the board has "full confidence in Colette and the leadership team." He added that the company's work, customer deals and product plans should continue "without interruption." The board also thanked Huang and called his contributions "profound."
Colette Kress said she will build on the "extraordinary foundation" Huang created over 33 years.
Why did he resign? The scandal in simple words
Nvidia did not explain the reason. But news reports connect his exit to a scandal that exploded in less than a week:
- The affair: On Sunday, November 8, Huang sent an email to staff. He apologised to his family and colleagues and admitted he had been unfaithful to his wife.
- The spy fear: Reports said US officials suspected that a woman linked to him was working for Chinese intelligence. China has dismissed the spy claim as a smear.
- The investigation: The same day, Nvidia's board opened an independent investigation. It said it had "no reason to believe" national security or Nvidia secrets were compromised.
- More reports: On Wednesday, Reuters reported the board was weighing his removal over a separate alleged relationship with a senior executive who reported to him. Later reports spoke of more allegations.
We covered the first part of this story here: Nvidia CEO Jensen Huang admits affair.
Day by day: how it all happened
| Date (2026) | What happened |
|---|---|
| Nov 4–5 | Three US House committee chairs ask Huang for a closed-door briefing on November 18. |
| Sun, Nov 8 | Huang admits the affair in an email to staff. The board opens an independent investigation. |
| Mon, Nov 9 | Nvidia stock closes down about 4.3%, wiping roughly $192 billion off its value. |
| Wed, Nov 11 | The board accepts Huang's resignation, according to Nvidia's SEC filing. |
| Thu, Nov 12 | Nvidia announces the resignation. Colette Kress becomes interim CEO. |
| Tue, Nov 17 | Nvidia reports its quarterly earnings, the first without Huang. |
How did Nvidia stock react?
Very badly at first. On Thursday, the stock fell more than 13% in early trading, and Al Jazeera said it was down more than 14% at one point. Then buyers stepped in.
By the closing bell, Nvidia was down 4.34% at $166.19, according to Benzinga and CNBC. In after-hours trading it edged up about 1%. Benzinga put the company's value at about $4.01 trillion. Yahoo Finance reported that Nvidia has lost around $490 billion in market value since the scandal began.
Who is Colette Kress, the new boss?
Kress is "interim," which means temporary. Names in the media for the permanent job include Kress herself and Ian Buck, the engineer who helped build Nvidia's CUDA software. Other big names have been mentioned too, but none has been confirmed.
What happens next?
- Earnings on November 17: Nvidia reports its results at about 1:20 pm Pacific time. That is 11:20 pm in Cairo. The call with analysts starts at 2 pm Pacific, which is midnight in Cairo.
- The CEO search: The board is looking inside and outside the company. There is no timeline yet.
- Washington: US lawmakers are still looking at the national security side of the story.
- Big AI deals: Al Jazeera reports Nvidia is preparing to invest about $10 billion in AI company Anthropic. Read our guide: Anthropic IPO: price, ticker and what to know.
Reactions are still coming in. Former Goldman Sachs boss Lloyd Blankfein called it "Shakespearean." For millions of people, Jensen Huang was Nvidia. Now the company has to prove it can run without him.
FAQ
Did Jensen Huang resign from Nvidia?
Yes. Nvidia announced on November 12, 2026, that Huang resigned as president, CEO and board member, effective immediately.
Why did Jensen Huang resign?
Nvidia gave no official reason. The resignation came days after Huang admitted an affair and the board opened an independent investigation into reports linked to national security.
Who is the new CEO of Nvidia?
CFO Colette Kress is interim CEO while the board searches for a permanent replacement. She also remains CFO.
What happened to Nvidia stock after Huang resigned?
It fell more than 13% in early trading on November 12, then recovered and closed down 4.34% at $166.19.
When is Nvidia's next earnings report?
Tuesday, November 17, 2026, at about 1:20 pm Pacific time (11:20 pm Cairo time), with the earnings call at 2 pm Pacific (midnight in Cairo).
