NEW YORK, November 13 (Radarr Africa) – Nvidia said co-founder Jensen Huang has resigned as president, chief executive and a member of its board with immediate effect, ending 33 years at the head of the world’s most closely watched artificial intelligence chipmaker.
In a filing with the US Securities and Exchange Commission dated November 12, the company said its board accepted the resignation on November 11. It named Colette Kress, executive vice president and chief financial officer, as interim chief executive while the board searches for a permanent successor. Kress, 59, has been chief financial officer since 2013 and keeps that role.
The board appointed Harvey C. Jones, 73, as chair. Jones has served on the board since 1993 and has been managing partner of Square Wave Ventures, a private family office, since 2004. He has more than 30 years of experience as an entrepreneur, technology executive and venture investor. The filing discloses no compensation or separation terms.
The resignation follows the board’s decision on November 9 to open an independent investigation into Huang. The review followed reports that he had a relationship with a businesswoman who allegedly passed intelligence and advanced chips to China, an arrangement that raised national security concerns in the United States. According to The Associated Press, Huang has admitted to the relationship. Nvidia said at the time that it had no reason to believe its information, or US national security, had been compromised.
Nvidia shares fell 8.6 per cent in after-hours trading on Wednesday after reports that the board was meeting to discuss Huang’s position. They had risen 2.9 per cent during the regular session, as AI-related stocks rebounded from the previous week’s sell-off. Investors have been weighing whether the AI industry will earn enough profit and productivity gains to justify the scale of spending on data centres.
Ipek Ozkardeskaya, a senior analyst at Swissquote, said there is no credible way to put a precise revenue loss on Huang’s departure. She argued that Nvidia’s customers buy its computing power, software and networking ecosystem, and that those advantages would not disappear with its chief executive.
Kress said she would build on the foundation Huang set while keeping the focus on customers, partners, developers and shareholders, according to the company’s announcement. Jones said he is confident in Kress and the current management team, and that Nvidia would keep executing its technology strategy and meeting its customer commitments. He also acknowledged Huang’s contributions.
The board has started a search that will consider both internal and external candidates. Nvidia said it will report its third-quarter fiscal 2027 results on Tuesday, November 17, 2026, with a conference call at 2 p.m. Pacific time.
The change comes while the AI trade is already under strain. Global stocks were mixed on Thursday as worries about Nvidia’s leadership weighed on AI shares. Brent crude was trading at about $93.53 a barrel, within the $72 to $120 range it has held since the war with Iran pushed oil prices sharply higher earlier this year.
