Jensen Huang resigned on November 12,2026 from his positions as chairman, chief executive officer, and member of the board of directors of Nvidia, the company he co-founded in 1993. Its chief financial officer, Colette Kress, is serving as interim CEO, following a week marked by an internal investigation and the admission of an extramarital affair.
In a press release, Nvidia states that Jensen Huang left his positions “with immediate effect.” Colette Kress, the company’s chief financial officer since September 2013, becomes interim CEO and retains her financial duties. The board of directors has launched a search for a permanent successor, considering both internal and external candidates. It has also appointed, for the first time, a chairman of the board, Harvey C. Jones, former CEO of Synopsys. The release gives no reason for the departure and the board “thanks Jensen for his invaluable contribution to the company and the industry.”
An investigation opened on November 8
This departure comes four days after the opening of an internal investigation. On Sunday, November 8, the board of directors announced an “independent investigation, ” following press reports that Jensen Huang had been the target “of a foreign intelligence operation.” The board stated at the time that it had “no reason to believe” that national security or Nvidia’s secrets had been compromised, and affirmed its “confidence in Jensen.” On November 10, the independent directors entrusted the investigation to Joon H. Kim, former acting U.S. Attorney for the Southern District of New York, and the law firm Wachtell, Lipton, Rosen & Katz.
The same day, Jensen Huang sent a message to employees, published on the company’s website. ‘I was unfaithful to my wife. My actions have hurt her, and our children. Nothing excuses what I did. I am deeply sorry, ‘ he wrote, promising to ‘cooperate fully’ with the investigation. According to The Information, the woman with whom he allegedly had the relationship worked for a company suspected of facilitating around $7.5 billion in chip sales to China. According to Bloomberg, Beijing denied that Jensen Huang was targeted by an espionage operation. On November 11, the New York Times reported a second relationship, with a Nvidia executive, while the Wall Street Journal wrote that the board was preparing to oust its CEO. Three Republican members of the House of Representatives, including Brian Mast, have also requested a closed-door briefing on the matter.
Nearly $2 trillion wiped out since October
Nvidia’s stock fell sharply during the week. On the morning of November 12, the share price dropped to $156.20, its lowest level since July 2025, compared to a record high of $239.24 on October 6. According to Yahoo Finance, Nvidia has lost over $600 billion in market capitalization since November 5, and around $2 trillion from its peak. On November 11, the firm Bernstein downgraded its recommendation and lowered its price target from $400 to $200.
Jensen Huang founded Nvidia in 1993 with Chris Malachowsky and Curtis Priem, and had been its only CEO since that date. Under his leadership, the maker of GeForce graphics cards became the world’s leading supplier of chips for artificial intelligence. In June 2025, he attended VivaTech in Paris to announce, with Mistral AI, the construction of an AI computing platform in France. Nvidia will release its third-quarter results as scheduled on Tuesday, November 17, with an analyst conference call at 11 p.m. Paris time.
