Daily newsletter · Fri 13 Nov 2026
Jensen Huang resigned on Thursday morning and Nvidia closed down 4.34%
The statement came before the opening bell. Huang has resigned as president, chief executive and a director, effective immediately, after 33 years. The shares bottomed at US$148.80, 14.3% below Wednesday's close.
So who is running Nvidia now? Colette Kress, chief financial officer since 2013, is interim chief executive and keeps the finance job while the board hunts for a permanent replacement. She spent close to 25 years in finance roles at Cisco, Microsoft and other technology companies before she joined.
The resignation followed a board inquiry opened on Monday. It was looking into reports that Huang had been the target of a foreign intelligence effort, alongside reports of extramarital affairs. Harvey Jones, who ran Synopsys, becomes the first chair in Nvidia's history.
Everything else in chips had a good day. AMD rose 5.86% and Broadcom 5.54%, and Nvidia had already given up 8.5% before the announcement, most of it in Wednesday's after-hours trading.
the quarter Nvidia reports on Tuesday was earned under Huang, and the company has guided revenue to about US$108 billion. Kress has signed off every number it has published since 2013. I'd want to see where the permanent chief executive comes from, because an outside hire would say the board wants a different company.
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