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Nvidia’s board announced on November 12, 2026, that Jensen Huang resigned as president, chief executive officer and board member with immediate effect. The board named Colette Kress, the company’s chief financial officer since 2013, to serve as interim CEO while it considers both internal and external candidates for a permanent replacement. Harvey Jones, a longtime board member and former Synopsys CEO, was appointed as Nvidia’s first-ever board chair in the same announcement, according to a company statement.
The New York Times reported days earlier that Huang had an extramarital relationship with Alice Huang, a businesswoman identified by US officials as an asset of China’s Ministry of State Security. A subsequent New York Times article on November 11 identified a second relationship with Kimberly Powell, Nvidia’s vice president of healthcare, who was a direct report to Huang. Huang acknowledged being unfaithful to his wife in an earlier message to employees, without naming either woman, CNN reported.
Reuters data showed Nvidia shares falling more than 10 percent in pre-market trading following the announcement, a drop that would erase more than 400 billion dollars from the company’s market capitalization. The chipmaker, which Reuters noted had reached a valuation near 4 trillion dollars amid the artificial intelligence surge, was co-founded by Huang in 1993. Huang, who is 63, built the firm into a central supplier of processors essential for AI systems, according to multiple industry reports.
The board opened an independent investigation after the initial reports surfaced, a source familiar with the matter told WIRED. The Wall Street Journal reported that directors held an emergency meeting on November 11 to discuss Huang’s position at the company. Pressure intensified after the second affair became public, leading to the swift acceptance of his resignation, The Verge reported.
Harvey Jones said in the statement, “Colette has helped lead NVIDIA through a period of extraordinary growth and has a deep understanding of our business, customers, operations and financial position.” Colette Kress stated that NVIDIA’s strength has always come from its people and that she is committed to building on the foundation Huang created over 33 years. The board thanked Huang for his contributions to the company and the technology sector, according to the announcement.
The departure removes a key figure who maintained close ties to US policymakers, including President Donald Trump, on issues ranging from chip exports to competition with China, Reuters reported. Huang had denied compromising any national security information in connection with the reported relationships. The transition occurs as Nvidia’s technology continues to drive global demand for advanced computing infrastructure.
