GUWAHATI: Nvidia CEO Jensen Huang has resigned as President, Chief Executive Officer (CEO) and a member of the company's Board of Directors with immediate effect, marking a major leadership change at the artificial intelligence and semiconductor giant.
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In a statement released on Thursday, November 12,, the company announced that Huang would also step down from the board. Nvidia will initiate a search for a permanent CEO and consider both internal and external candidates.
Colette Kress, Nvidia's current Executive Vice President and Chief Financial Officer (CFO), has agreed to take over as Interim CEO. She will continue to hold her position as CFO until a permanent successor is appointed.
Kress joined Nvidia in September 2013 and has led the company's finance organisation through a period of significant growth and expansion. Before joining Nvidia, she spent nearly 25 years in finance roles at leading technology companies, including Cisco and Microsoft.
Huang's resignation comes after a turbulent week for Nvidia, one of the biggest players driving the global artificial intelligence boom. His departure could have wider implications for US chip export policies and the broader AI industry, particularly given his efforts to maintain access to the Chinese market and his close ties with US President Donald Trump.
According to a report by The New York Times, Trump had urged Huang to fight for his position during a phone call on Tuesday.
The leadership change also comes amid an investigation involving allegations of intelligence being passed to Beijing. Last month, The New York Times reported that US intelligence agencies had uncovered a close relationship between Nvidia CEO Jensen Huang and Alice Huang, with intelligence officials determining that she was passing information directly to Beijing.
Following Nvidia's announcement of an internal investigation on Sunday, Trump confirmed on Monday that the Federal Bureau of Investigation (FBI) was also investigating the matter.
Nvidia has stated that it has no reason to suspect a breach of national security or the disclosure of internal secrets. However, the company's internal investigation will review all available information.
Meanwhile, Nvidia shares plunged 13 per cent in premarket trading on Thursday. The company's stock has lost more than a third of its value since reaching a record high last month, wiping approximately $1.7 trillion off its market capitalisation.
Investors are now looking ahead to Nvidia's third-quarter fiscal 2027 financial results, scheduled for November 17. The company said it will announce its results at approximately 1:20 PM Pacific Time, followed by an earnings call at 2 PM.
