Jensen Huang has resigned as chief executive of Nvidia, effective immediately. The board announced it on Thursday 12 November, ending his 33 years at the top of the AI chipmaker he co-founded. CFO Colette Kress takes over as interim chief, and the board has named Harvey C. Jones as its first-ever chair.
Updated: 13 November 2026, 10:30 IST
Quick Read
- Jensen Huang resigned as Nvidia president, chief executive and board member on Thursday 12 November, effective immediately. CFO Colette Kress is interim CEO and keeps her CFO job.
- Huang has agreed to testify before the US Congress before Thanksgiving, in a closed-door briefing, with a subpoena ready if he backs out.
- Nvidia shares fell more than 4% and over $500 billion in value is gone, the Times of India reported. Donald Trump has backed Apple chief Tim Cook as Huang’s replacement.
What happened on Thursday
Nvidia’s short statement said Huang “has resigned as President, Chief Executive Officer, and a member of the Board, effective immediately”. Kress, the executive vice-president and chief financial officer, “has agreed to serve as Interim Chief Executive Officer” while keeping both jobs.
The board is now looking for a permanent chief executive, inside Nvidia and outside it.
Jones, a long-time board member, becomes the board’s first chair, and said it has “full confidence in Colette and the leadership team” and expects work, customer promises and product plans to carry on “without interruption”.
Nvidia still reports third-quarter results on Tuesday 17 November, as planned.
Also read: Nvidia falls 8% as board weighs Huang exit
The testimony deal
Huang has agreed to appear before the US Congress before Thanksgiving, the last Thursday in November, in a closed-door briefing that could happen as soon as next week.
Brian Mast, chair of the House Foreign Affairs Committee, said Huang gave a tentative yes on Wednesday night, and lawmakers have a subpoena ready if he changes his mind. The House Select Committee on China, led by John Moolenaar, is also seeking a date; its letter of 4 November had sought a briefing on 18 November.
The questions will centre on Huang’s relationship with Alice Huang, a Chinese businesswoman and former Megaspeed executive, and on Nvidia’s security rules and chip-export lobbying. US officials suspect Alice Huang of links to Chinese intelligence services — a suspicion, not a proven fact.
Huang has hired New York law firm Paul Weiss, the New York Times reported.
Trump, Cook and the phone call
Donald Trump has backed Apple chief Tim Cook as Huang’s replacement, telling reporters Huang had phoned him and was “going through hell”.
A third affair allegation against Huang has also emerged, NDTV reported. It all started on 8 November, when Huang told staff he had been unfaithful to his wife and the board opened a probe. The New York Times has since reported a second affair, with Nvidia executive Kimberly Powell; little about the third has been confirmed in public.
Also read: Nvidia board probes Huang over China spy claim
The shares: $500 billion gone
Nvidia shares fell more than 4% and over $500 billion in value is gone, the Times of India reported. The slide began a week ago: on Wednesday the shares had already fallen about 8% in after-hours trading, after the Wall Street Journal reported the board was preparing to remove Huang.
Huang still owns about 3.61% of Nvidia, making him its fourth-largest shareholder, the Economic Times reported. He has slipped to 13th on the Forbes rich list, the Times of India reported — still a big owner, even after leaving the top job.
What it means for readers in India
Nvidia sells no phone or laptop in India, so this is not about a price you pay. Its chips sit at the centre of the AI boom: Indian firms buy or rent them, and Indian investors hold the stock through funds that track US markets.
Reliance, Yotta and L&T have chip and AI deals tied to Nvidia hardware, as we reported on 10 November. Nothing in Thursday’s announcement changes those deals on its own — what changes is who runs the company that supplies the chips.
Also read: Gemini 4 Carbon out — $2 price doubles on Dec 1
FAQ
Did Jensen Huang quit, or was he pushed out?
He resigned, in the board’s own words, effective immediately — but a day after the Wall Street Journal reported the board was preparing to remove him, and after the board met late on Wednesday. The official word is resignation; the background is a board that had already moved against him.
Will Colette Kress stay as CEO?
Interim CEO only. The board has started a search for a permanent chief executive, inside and outside the company, and Kress keeps her CFO job.
What happens next?
Huang is due to testify before Congress before Thanksgiving. Nvidia reports third-quarter results on 17 November, and Kress has promised a company-wide meeting on 18 November.
Desk-original added context
Our own timeline: Sunday 8 November — Huang admits infidelity and the board opens a probe; Tuesday 10 November — the board hires outside lawyers; Wednesday 11 November — the Journal reports the board is preparing to remove Huang, the Times reports the second affair, and the board meets late; Thursday 12 November — Huang resigns, Kress becomes interim CEO, Jones becomes first chair, Huang agrees to testify; Tuesday 17 November — Nvidia reports results; Wednesday 18 November — Kress holds a company meeting. Four days passed between the probe opening and the resignation. Huang’s 3.61% stake makes him the fourth-largest shareholder, so the man who built Nvidia still owns a large slice of it.
Sources
- Channel News Asia — Nvidia CEO Jensen Huang resigns (13 Nov 2026, 200 verified; primary source)
- The Indian Express — Nvidia chief Jensen Huang resigns, CFO Colette Kress named interim CEO (13 Nov 2026, 200 verified; full board statement)
- The Economic Times — Nvidia CEO Jensen Huang resigns, Colette Kress appointed interim CEO (12 Nov 2026, 200 verified; 3.61% stake)
Sasanka Sekhar Pradhan is the founder of India Presents, an India-focused news site. He covers daily box-office trackers, India news, economy explainers, sports previews and festival guides — in simple English, so readers across India can follow fast-moving stories without jargon. His focus is what a story means for the reader: the number that matters, the source behind it, and what happens next. India Presents publishes daily, with day-trackers updated as new figures come in.
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