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 now serving as interim CEO, after a week marked by an internal investigation and the admission of an extramarital affair.
In a statement, Nvidia said Jensen Huang resigned ‘effective immediately.’ Colette Kress, the company’s chief financial officer since September 2013, becomes interim CEO and retains her financial duties. The board of directors has initiated a search for a permanent successor, considering both internal and external candidates. It also appointed a chairman of the board for the first time, Harvey C. Jones, former CEO of Synopsys. The statement gave no reason for the departure and thanked Jensen Huang for his ‘invaluable contribution to the company and the industry.’
An investigation opened on November 8
The 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 said at the time it had ‘no reason to believe’ that national security or Nvidia’s secrets had been compromised, and stated it had ‘confidence in Jensen.’ On November 10, the independent directors assigned the investigation to Joon H. Kim, former acting U.S. Attorney for Manhattan, and the law firm Wachtell, Lipton, Rosen & Katz.
The same day, Jensen Huang sent a message to his employees, published on the company’s website. ‘I was unfaithful to my wife. My actions 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 about $7.5 billion in chip sales to China. Beijing denied that Jensen Huang was targeted by an espionage operation, according to Bloomberg.
On November 11, the New York Times reported a second relationship, this time with a Nvidia executive. The Wall Street Journal separately wrote that the board of directors 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.
A stock market decline since the October record
Nvidia’s stock fell sharply during the week. On the morning of November 12, it 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 more than $600 billion in market capitalization since November 5, and about $2 trillion since its peak. On November 11, the firm Bernstein downgraded its recommendation and cut its price target from $400 to $200.
Jensen Huang co-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 came to VivaTech in Paris, announcing with Mistral AI the construction of a computing platform for AI in France. Nvidia will release its third-quarter results on Tuesday, November 17, with an analyst conference call at 11 p.m. Paris time.
