NVIDIA Corporation announced on Thursday, November 12, 2026, that co-founder Jensen Huang has resigned as president, chief executive officer, and member of the board of directors and that the resignation took effect immediately. In a formal press release and regulatory filing with the U.S. Securities and Exchange Commission, Nvidia confirmed the transition. Executive Vice President and Chief Financial Officer Colette Kress has been appointed interim CEO and retains her finance duties.
Huang's resignation follows days of intensifying corporate turmoil triggered by disclosures of two separate extramarital relationships. Multiple outlets recently reported that Huang had a relationship with Alice Huang, an executive at Singapore-based data center operator Megaspeed; she has no family relation to him. The reports came amid allegations that she gathered intelligence for Beijing. Nvidia's board had recently launched an internal investigation examining potential foreign espionage targeting its leadership. On Wednesday, November 11, The New York Times reported a second alleged affair, naming Nvidia executive Kimberly Powell, a direct subordinate, a disclosure that rendered his continued tenure untenable.
Beijing's Foreign Ministry dismissed the espionage allegations as "groundless speculation." Nvidia shares tumbled sharply in Thursday trading following the transition announcement, dragging down broader artificial intelligence infrastructure equities, including CoreWeave. Nvidia's board of directors has initiated a formal search considering both internal and external candidates for a permanent successor. Naming Kress provides operational continuity for hyperscale cloud customers; she has managed Nvidia's balance sheet since 2013.
On November 11, U.S. Senators Elizabeth Warren and Chris Coons sent a formal oversight letter to the White House, Commerce Department, and State Department, demanding records regarding government awareness of Nvidia chip diversion risks. Regulators and lawmakers are closely examining how Singapore-based data center firms like Megaspeed procured advanced computing clusters.
