Nvidia Names CFO Colette Kress Interim CEO After Jensen Huang Resigns
Key Takeaways
- •Jensen Huang, who co-founded Nvidia in 1993 and led it for over three decades, resigned as CEO on Thursday following reports of two extramarital affairs, one involving a suspected Chinese spy.
- •Chief Financial Officer Colette Kress has assumed the interim CEO role while the board searches for a permanent successor, and new board chair Harvey Jones said operations, customer commitments, and the product roadmap should continue without interruption.
- •Nvidia shares fell 6.5% to $162.31 on Thursday, putting the stock on track for its lowest closing level since July 8, 2025.
- •The board launched an independent investigation into the matter and stated it has no reason to believe trade secrets or national security were compromised.
- •Polymarket traders currently favor Nvidia executive Ian Buck, a key developer of the CUDA platform, as the next permanent CEO at 29% odds, narrowly ahead of Kress at roughly 28%.
Nvidia has appointed Chief Financial Officer Colette Kress as interim chief executive after co-founder Jensen Huang resigned on Thursday, with the change taking effect immediately. Kress assumes the role on an interim basis while the board works to identify a permanent successor. The leadership shake-up caps a tumultuous week for the chipmaker and sent its shares toward their lowest levels in more than a year. Huang co-founded Nvidia in 1993 and had led it ever since — one of the longest tenures among major U.S. technology companies — as the company grew from a graphics-chip maker into a central supplier of processors for artificial intelligence.
The Information reports Interim Nvidia CEO Colette Kress pushed back on a proposed $250B credit backstop for OpenAI's 8 GW data center buildout. Nvidia later split the deal, guaranteeing around $100B so far. pic.twitter.com/OJukDUOAvO
— Wall St Engine (@wallstengine) November 12, 2026
Shares Slide to Multi-Month Lows
Nvidia shares (NVDA) fell 6.5% to $162.31 on Thursday, putting the stock on pace for its lowest close since July 8, 2025, according to Dow Jones Market Data.
Why Huang Is Leaving
Calls for Huang to step down grew this week after reports said he had two extramarital affairs — one with a suspected Chinese spy, and the other with a company executive. On Sunday, Huang issued a statement admitting to the first affair. He apologized to his family and to Nvidia employees.
Who Is Colette Kress?
Kress joined Nvidia in 2013 and has become a familiar figure to analysts and investors, regularly delivering the company's financial updates on quarterly earnings calls. Before Nvidia, she served as senior vice president and CFO of Cisco's Business Technology and Operations Finance group. She also spent 13 years at Microsoft, including a role as CFO of its Server and Tools group.
In a statement, Kress said she is committed to building on the work Huang did to turn Nvidia into what it is today, adding that the focus remains on customers, partners, developers and shareholders.
New board chair Harvey Jones said the board has full confidence in Kress and the leadership team. He said the company expects operations, customer commitments and the product roadmap to continue without interruption.
The board has also launched an independent investigation into the matter, saying it has no reason to believe trade secrets or national security were compromised.
The Race for a Permanent CEO
Attention has quickly turned to the search for Huang's permanent replacement. Prediction-market traders are already placing bets: Polymarket lists Nvidia executive Ian Buck as the front-runner at 29%, with Kress close behind at roughly 28%. Buck helped develop Nvidia's CUDA computing platform, the software foundation underpinning much of the company's AI computing business. StoneX analysts called him one of the strongest internal candidates, but said he has yet to prove himself as a companywide leader.
Arm CEO Rene Haas ranks third at 6%. He spent seven years at Nvidia and once led its computing products business. StoneX also named chief scientist Bill Dally and field operations chief Nick Parker as possible picks, though it views them as less likely.
The speculation spans a mix of internal and external contenders. Outside options include Google Cloud CEO Thomas Kurian and Amazon Web Services CEO Matt Garman. President Donald Trump wrote on social media that Apple's Tim Cook should take the job — a scenario Ken Mahoney, CEO of Mahoney Asset Management, called a “mega long” shot. AMD CEO Lisa Su sits at 2% odds, and StoneX dismissed the idea of a family successor, citing a lack of experience.
Analysts Weigh the Road Ahead
The abrupt transition has drawn a wave of commentary from Wall Street. Goldman Sachs analysts warned that Nvidia could struggle to replace Huang's technical vision and industry influence. Michael Landsberg of Landsberg Bennett Private Wealth Management said the stock could face further selling pressure as investors reassess the company without Huang at the helm. For now, the near-term markers will be the board's progress in naming a permanent chief executive and the findings of its independent investigation.
