Nvidia CEO Jensen Huang resigns, tech giant appoints Colette Kress as Interim CEO

Nvidia Corporation co-founder Jensen Huang has stepped down as president, chief executive officer (CEO) and board member, effective immediately, amid controversy surrounding his relationship with Alice Huang, a former business executive suspected of ties to Chinese intelligence.

According to an official statement issued on Thursday, Nvidia's chief financial officer (CFO), Colette Kress, has been appointed as the interim CEO while the technology giant considers its next leadership steps. Kress will continue to serve as the company's executive vice-president and CFO.

It also named former Synopsys CEO and board member Harvey Jones as its first-ever board chairman. Jones has been an entrepreneur, technology executive, and active venture investor for over 30 years, the company said.

Huang co-founded Nvidia in 1993 and is the chipmaker's fourth-largest shareholder, holding a stake of about 3.61%. Nvidia shares fell more than 10% in premarket trading, weighing on the broader market.

Pressure had been mounting on Huang in recent days after reports said the 63-year-old, who is married to Lori Huang, had an affair with a Chinese businesswoman, whom US authorities suspect of spying for Beijing.

Subsequently, reports of a second extra-marital affair also emerged, this time involving Nvidia's vice president of healthcare, Kimberly Powell, who reported directly to Huang.

Nvidia's board met on Wednesday to consider his ouster, news agency Reuters reported earlier. The news of his exit comes shortly after that.

Huang's sudden exit from his position throws the $4 trillion company into uncertainty and raises questions about the future of the artificial intelligence (AI) ecosystem that he helped build.

Under his leadership, Nvidia channelled its growing cash reserves into the industry, investing in cloud providers, suppliers and the AI industry's biggest research labs, according to a Reuters report. His exit could disrupt these relationships and change the flow of capital across the AI industry.

Investor sentiment towards AI stocks was already showing signs of weakness as rising cash burn and mounting debt among traditionally cash-rich technology giants fuelled concerns over whether the AI boom will pay off.

Worldwide spending on AI is forecast to total $2.67 trillion in 2026, marking a nearly 50% increase year-over-year, according to data from Gartner.

The departure could also have far-reaching consequences for US chip export policy, given Huang's push to preserve access to the Chinese market and his close ties with US President Donald Trump.

Trump said on Sunday that Huang had "done an amazing job for our country (United States)" and that the Nvidia chief had told him he had no idea the Chinese woman he had an affair with was a spy.

Meanwhile, Alice Huang, the founder of Singapore-based cloud provider Megaspeed International, has returned to her home country, China, and is currently living in Beijing with the knowledge of security officials, news agency Bloomberg reported earlier.

Not much is known about the background of Alice Huang, though some reports say she began her career as a journalist with Hunan TV and state broadcaster CCTV. She is also said to have worked at HSBC’s Hong Kong private banking arm and at CITIC Securities, a Chinese investment bank. It is yet unclear how and when she pivoted into being a top business executive.

Quick answers to key questions

•5 QUESTIONS

1

Who is Nvidia’s interim CEO after Jensen Huang stepped down?⌵

Nvidia CFO Colette Kress has been appointed interim CEO while the company considers its next leadership steps. She will continue as executive vice-president and CFO.

2

Why did Jensen Huang resign from Nvidia?⌵

Huang stepped down amid controversy over his reported relationship with Alice Huang, a former business executive suspected of links to Chinese intelligence. The related reports also describe an Nvidia board investigation into the matter.

3

Did Jensen Huang leave Nvidia’s board as well as the CEO role?⌵

Yes. The main article says Huang stepped down as Nvidia’s president, CEO and board member, effective immediately.

4

Has Nvidia named a permanent successor to Jensen Huang?⌵

No permanent successor is named in the articles. Colette Kress is serving as interim CEO while Nvidia considers its next leadership steps.

5

Will Colette Kress remain Nvidia’s CFO while serving as interim CEO?⌵

Yes. Nvidia says Kress will continue to serve as executive vice-president and CFO alongside her interim CEO role.

Eshita Gain is a digital journalist at Mint, where she joined in May 2025. She writes on corporate developments, personal finance, markets, and business trends, with a focus on delivering timely and relevant stories to a broad audience. <br><br> While her core beat lies in business and finance, she is not confined to a single niche and frequently explores stories across domains, including international relations and policy developments. <br><br> She holds a postgraduate diploma in business and financial journalism by Bloomberg from the Asian College of Journalism (ACJ), Chennai. During her time there, she received rigorous training in tracking financial data, interpreting corporate filings, and reporting on business developments. She has pursued her graduation from St. Joseph’s University, Bengaluru in a multi-disciplinary course. Her majors included Journalism, International Relations, peace and conflict studies. <br><br> Eshita has previously worked in digital marketing, which enables her to write SEO friendly copies that are clear and engaging. <br><br> Her primary interest lies in breaking down complex subjects and writing clear, accessible copies that inform readers. She aims to bridge the gap between technical financial language and everyday understanding. Outside the newsroom, Eshita enjoys reading non-fiction, and exploring new places, constantly seeking fresh perspectives and stories beyond headlines.

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