Nvidia announced Jensen Huang’s resignation as president, chief executive and board member on November 12, ending the co-founder’s 33-year leadership of the chipmaker. Finance chief Colette Kress takes over as interim CEO while retaining her CFO responsibilities.

The board will consider internal and external candidates for the permanent role. It also appointed Harvey Jones, a former Synopsys CEO, as Nvidia’s first board chair. The company’s announcement did not state a reason for Jensen Huang’s resignation.

Nvidia Stock Tumbling Down

At the open, Nvidia shares tumbled to $159.91, the lowest level since June 2025. By the time of writing, the stock has partially recovered losses and returned to $163.36, though it is still down 6.2% from yesterday’s close. Over the last five days, the stock has lost 15%, while its monthly losses exceeded 27%.

The sell-off had already begun before the announcement, with Reuters reporting sharp losses in extended trading amid reports of Huang’s possible departure.

Departure Follows Independent Investigation

Huang’s exit follows reports of a relationship with a woman suspected by US authorities of spying for China. Those allegations had increased pressure on the executive before the leadership change.

In a November 8 letter to employees, Huang acknowledged marital infidelity and pledged to cooperate with an investigation into national-security concerns. He did not identify the woman or admit disclosing confidential information.

That day, Nvidia’s board announced an independent investigation while expressing confidence in Huang and his management team. It said it had no reason to believe national security or company secrets had been compromised.

Four days later, Nvidia publicly announced his departure.

Earnings Are the Next Scheduled

Update Independent directors appointed former acting US Attorney Joon Kim and Wachtell, Lipton, Rosen & Katz to conduct the investigation on November 10.

For customers and partners, Jones said the board expects operations, customer commitments and the product roadmap to continue without interruption.

Nvidia’s next scheduled financial update remains November 17, when it will publish fiscal third-quarter results and hold its earnings call under the new interim leadership.

This article was written by Tanya Chepkova at www.financemagnates.com.TrendingRead More

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