According to the analysis published by The Next Platform, Jensen Huang, co-founder of Nvidia, has resigned from his roles as chairman and CEO. Colette Kress, the group’s long-time CFO, has been designated to replace him on an interim basis, following revelations concerning two of Jensen Huang’s relationships, one with an executive at the Singaporean company Megaspeed International, the other with a high-ranking Nvidia executive.
The media outlet notes that Megaspeed is at the center of an investigation. According to this analysis, many speculations claim the company routed Nvidia GPU-based systems, or remote access to these systems, to Chinese companies, including the model maker DeepSeek. It is not established that Jensen Huang was aware of this. A sister company of Megaspeed purchased $4.8 billion worth of Nvidia hardware between June 2024 and February 2026, and The Information reports that Megaspeed and its affiliates have acquired $7.5 billion worth of GPU systems since 2023.
According to the timeline established by the New York Times, the U.S. Department of Commerce had been investigating Megaspeed since the end of 2024. These investigations reportedly later slowed down before being transferred to the U.S. Department of Justice, whose progress remains uncertain. The analysis also notes that it is unclear whether leasing compute capacity to Megaspeed’s clients, including Alibaba, is currently illegal.
A New Governance
Harvey Jones, former CEO of a chip design software publisher and managing partner at the venture capital fund Square Wave Ventures, has been appointed chairman of the board. This is the first time Nvidia has had a board chairman. A board member since November 1993, shortly after the company’s founding in April 1993, he is now tasked with launching the search for a new CEO. According to the analysis, there is every reason to believe Colette Kress will remain CFO after her successor arrives.
Prior to these events, Jensen Huang’s fortune was estimated at $145 billion, placing him 15th in the world. His departure leads to the forfeiture of $108 million in stock compensation, while his 3.6% stake in Nvidia is also affected.
For the company itself, the analysis estimates that internal operations remain solid. Indeed, Jensen Huang had around sixty top executives reporting directly to him, and they are well aware of their missions. The roadmaps for the “Rubin” and “Feynman” GPUs, which are to carry the company through to 2030, are already set. Nvidia’s production is already sold out for 2027.
Multiple Pressures
However, the media outlet points out that Nvidia is facing several simultaneous pressures. Hyperscalers, cloud providers, and AI model makers are developing their own processors and AI accelerators, whose cost, according to the source, would be about half that of Nvidia’s hardware and software stack. Nvidia, for its part, is championing open models with its Nemotron family, which directly compete with the closed models of its main customers.
The analysis also mentions uncertainties about AI spending forecasts for 2029 and 2030, due to supply chain constraints and difficulties in adding electrical capacity to grids. It finally highlights the growing discontent in the United States regarding data centers, whose proliferation is said to coincide with rising household electricity bills.
