Overview
- Nvidia announced that Jensen Huang resigned effective November 12, and the board named CFO Colette Kress interim CEO while installing Harvey C. Jones as independent board chair and beginning a search for a permanent successor.
- The board opened an independent probe after reports that Huang admitted extramarital relationships that included a Megaspeed executive and that U.S. officials were investigating whether he had been targeted by a foreign intelligence effort.
- Investors reacted sharply to the leadership shock, driving the stock down intraday by about 13–14 percent, cutting Nvidia’s market value below $4 trillion and pushing forward valuation multiples to multi‑year lows.
- Asian governments and major customers have sought written supply assurances as critical AI projects rely on Nvidia GPUs, and officials in South Korea, Taiwan and Singapore have publicly monitored deliveries and ongoing investigations.
- Public support campaigns for Huang have gathered nearly 100,000 signatures and high‑profile backers, while near‑term milestones to watch are Nvidia’s November 17 earnings report and a closed congressional interview scheduled for December 1.