Overview
- Nvidia announced Thursday that founder Jensen Huang has stepped down from all company roles and that chief financial officer Colette Kress will serve as interim chief executive.
- The board has opened an independent investigation and retained outside counsel led by former federal prosecutor Joon H. Kim to examine the two relationships and any related corporate conduct.
- Federal law‑enforcement offices have signalled or opened inquiries and members of Congress have requested records while shareholders have filed a class action accusing the company of misleading investors.
- The stock plunged sharply after the reports, erasing roughly $600 billion in market value as analysts and investors repriced the company for leadership, legal and national‑security risk.
- Nvidia’s unusually founder‑centric management and lack of a public succession plan raise concerns about operational continuity and export‑control exposure for high‑end AI chips, and markets will watch upcoming earnings and the board’s search for a permanent successor.