Jensen Huang, Nvidia's co-founder, has stepped down as the company's president and chief executive after 33 years, and chief financial officer Colette Kress became interim CEO while the board searches for a permanent replacement, according to TechCrunch. Nvidia announced it on Thursday, November 12; in a regulatory filing, it said the board accepted the resignation on Wednesday, November 11. Kress will also keep her CFO role.
The company did not explain the reasons for the departure. "Jensen's contributions to Nvidia are profound," the board said, as it named Harvey C. Jones as the company's first-ever board chair. The stock fell nearly 12% at the open and closed about 4% lower, according to CNBC. This is what is known about Jensen Huang's exit from Nvidia and who takes charge.
View the data as a table
| Years leading Nvidia | 33 |
| Stock drop at Thursday's open | 12% |
| Market value lost since the previous Friday | US$ 855 mil M |
| Huang's stake in the company | 3.5% |
What is known about Jensen Huang's exit from Nvidia
Nvidia gave no reasons. Al Jazeera and TechCrunch link the departure to revelations about Huang's private life published days earlier, which raised national security questions in the United States; according to Al Jazeera, the board said it had no reason to believe national security had been compromised. The previous Sunday, the board had announced an investigation, according to CNBC. Huang owns about 3.5% of the shares and has no super-voting stock, so the board was able to remove him, according to TechCrunch.
Board chair Harvey Jones, managing partner of Square Wave Ventures and former chief executive of Synopsys, has sat on Nvidia's board since 1993. "The board has full confidence in Colette and the leadership team, and we expect the company's operations, customer commitments and product roadmap to continue without interruption," he said, according to Yahoo Finance.
Who is Colette Kress, Nvidia's interim CEO
Colette Kress has been Nvidia's chief financial officer since September 2013. She previously held finance roles at Texas Instruments, Microsoft and Cisco. She holds a bachelor's degree in finance from the University of Arizona and an MBA from Southern Methodist University, according to Al Jazeera. During her tenure, the company's annual revenue grew from US$4.13 billion in fiscal 2014 to US$215.9 billion in fiscal 2026. Kress said she is committed to building on the foundation Huang created.
| Role | Who | Since |
|---|---|---|
| Interim CEO | Colette Kress | November 12, 2026 |
| Chief financial officer | Colette Kress | September 2013 |
| Board chair | Harvey C. Jones | November 12, 2026 (first ever) |
| Founder and CEO until November 2026 | Jensen Huang | 1993 |
How much Nvidia grew under Jensen Huang
Huang founded Nvidia in 1993 and turned it from a maker of graphics cards for video games into the leading supplier of chips for artificial intelligence. The stock reached a high of US$243 in October, more than 1,450% above the roughly US$15 it was worth before ChatGPT launched, and its market value hit about US$5.88 trillion in early October, according to TechCrunch. This is how its annual revenue grew:
| Fiscal year | Revenue (US$ billions) |
|---|---|
| 2014 | 4.13 |
| 2016 | 5.01 |
| 2018 | 9.71 |
| 2020 | 10.92 |
| 2021 | 16.68 |
| 2022 | 26.91 |
| 2023 | 26.97 |
| 2024 | 60.92 |
| 2025 | 130.50 |
| 2026 | 215.90 |
Source: Nvidia annual reports; fiscal 2014 and 2026 according to Al Jazeera. The jump since fiscal 2024 coincides with demand for chips to train and run AI models. For context on other tech companies, see PS5 sales, another industry where Nvidia got its start.
What comes next for Nvidia
Nvidia will report quarterly results on Tuesday, November 17, the first test for Kress as interim CEO. According to TechCrunch, Huang had about 60 direct reports and no clear successor. Several analysts told CNBC that the departure could cost the company as much as 20% of its value. The exit also hit cloud companies that depend on Nvidia chips: CoreWeave fell about 9% and Nebius 16%, according to TechCrunch.
- 1993Huang founds NvidiaHarvey Jones joins the board that year.
- Sep 2013Colette Kress becomes CFO
- Nov 2022ChatGPT launchesThe stock was worth about US$15.
- Oct 2026Stock peaks at US$243
- Sun Nov 8, 2026The board announces an investigation
- Nov 11, 2026The board accepts the resignation
- Nov 12, 2026Kress named interim CEO; Jones board chair
- Nov 17, 2026Quarterly results
Frequently asked questions
Who is Nvidia's new CEO?
Colette Kress, CFO since 2013, became interim CEO on November 12, 2026 while the board searches for a permanent replacement.
Why did Jensen Huang resign?
Nvidia did not give reasons. The press links the departure to revelations about his private life published days earlier.
How much did Nvidia stock fall?
It fell nearly 12% on Thursday, November 12 and closed down about 4%.
When does Nvidia report results?
On Tuesday, November 17, 2026.
