TL;DR
Why did Jensen Huang resign as Nvidia CEO, and who replaces him?
Jensen Huang resigned as Nvidia's CEO on Thursday, effective immediately. Finance chief Colette Kress is interim CEO. Nvidia gave no reason, but it came after reports of two affairs. Your AI tools won't change. Nvidia says its product plans and customer commitments continue. Nothing to do unless Nvidia is a big part of your retirement savings.
Skip the finance: Nvidia's stock was already sliding before the news, and the next big signal is its earnings report on Tuesday, November 17.
What happened?
On Thursday, November 12, 2026, Nvidia announced that Jensen Huang resigned as president, CEO and member of the board, effective immediately. He had run the company for 33 years. Nvidia's 8-K filing, the form companies use to tell investors about major events, says the board accepted his resignation on Wednesday, November 11. Reuters broke the news on X at 8:52am ET.
The board thanked Huang for his "immeasurable contributions to the company and the industry." Its announcement doesn't say why he left.
Who runs Nvidia now?
| Role | Who | What we know |
|---|---|---|
| Interim CEO | Colette Kress | Nvidia's chief financial officer since September 2013. She keeps the CFO job until a permanent CEO is named. |
| Chair of the board | Harvey C. Jones | On the board since 1993. The board's first-ever Chair. Former CEO and executive chairman of Synopsys. |
| Permanent CEO | Not named yet | The board is searching and will consider internal and external candidates. |
"We expect the company's operations, customer commitments and product roadmap to continue without interruption," Jones said. Kress said she is "committed to building on the extraordinary foundation Jensen created over the last 33 years."
Why did Huang step down?
Nvidia hasn't said. The resignation followed a board meeting on Wednesday that CNBC reported stretched into the evening, after The Wall Street Journal reported the board was preparing to force him out.
CNBC said the meeting followed reports of two extramarital affairs. One, which Huang admitted to staff on Sunday, was with a woman U.S. intelligence officials believe is a Chinese spy, The New York Times reported. The Times also reported a relationship with Nvidia's vice president of health care. CNBC reported that the board had hired the law firm Wachtell, Lipton, Rosen & Katz to look into the spying allegations.
What happens next?
- Congress: Huang has agreed to testify before Congress before Thanksgiving, Bloomberg reported, citing House Foreign Affairs Chairman Brian Mast.
- The White House: President Trump wrote on Truth Social that Apple CEO Tim Cook should take Huang's place, CNBC reported. That's the president's suggestion; Nvidia's board is running the search.
- Earnings: Nvidia's third-quarter results are still set for Tuesday, November 17, at about 1:20pm PT (4:20pm ET), with the earnings call at 2pm PT (5pm ET).
Does this change the AI tools you use?
Not now. Nvidia makes the chips that most big AI tools run on, from ChatGPT to Gemini, and the board says its roadmap and customer commitments continue without interruption. Your subscriptions and apps keep working the same way.
The closer link is money. Nvidia is one of the largest companies in most U.S. index funds, the funds that sit inside many 401(k) retirement plans. Reuters reported that AI-linked stocks around the world "tumbled" after the news. Over time, a leadership change could also affect chip supply and prices, which feed into what AI companies charge, but nothing has changed there yet.
X reactions
Reuters broke the news, and CNBC shared what the president had to say about a replacement:
BREAKING: Jensen Huang has resigned as president, CEO and board member of Nvidia effective immediately https://t.co/Wmn3bqXqVq https://t.co/ciBE9Wm5Gg
— Reuters (@Reuters) November 12, 2026
Trump weighed in on the ouster of his closest corporate ally — and suggested another one should take his place.
— CNBC (@CNBC) November 12, 2026
“NOW THAT Nvidia CEO JENSEN HUANG, who has done a fantastic job, has resigned, there is only one man to take his place - TIM COOK of Apple,” Trump wrote on Truth Social.
“A Legend replaces a Legend!” Trump wrote.
More details: https://t.co/dIGtEFhzUC
Our take
This is a serious story about people, and the personal side belongs to them. The AI side is how much one company has come to carry. Nvidia's chips sit under almost every AI product we write about, and its stock sits inside millions of retirement accounts, so a sudden exit at the top was always going to rattle more than one industry.
For most readers, very little changes this week. The chips, the orders and the apps are all still there. The real signals are the November 17 earnings report and whoever the board picks as permanent CEO, so wait for those before reading too much into one day of headlines.
— Artificially Nerdy
What to do
- Using ChatGPT, Gemini, Claude or other AI tools? Nothing to do. They run as before.
- Worried about your 401(k)? Look at how much of your fund sits in a few big tech names, and talk it through with whoever manages your plan rather than reacting to one day's news.
- Curious how AI borrowing could reach your savings? Read our Real World View on AI debt and your 401(k).
- Mark Tuesday, November 17 for Nvidia's earnings report, the next real update.
- For the earlier FBI inquiry and shareholder lawsuit, see Trump, FBI and the Nvidia shareholder lawsuit.
FAQ
Who is Colette Kress?
She has been Nvidia's executive vice president and chief financial officer since joining in September 2013, after nearly 25 years in finance roles at companies including Cisco and Microsoft. She is now interim CEO and still CFO.
When did Jensen Huang resign?
Nvidia's 8-K filing says the board accepted his resignation on November 11, 2026. Nvidia announced it on November 12, effective immediately.
Is Tim Cook going to be Nvidia's CEO?
There's no sign of that. President Trump suggested Cook on Truth Social, CNBC reported, but Nvidia's board is running the CEO search and will consider internal and external candidates.
Is Nvidia still reporting earnings on November 17?
Yes. Nvidia says third-quarter results come out Tuesday, November 17, at about 1:20pm PT, as previously scheduled, with the earnings call at 2pm PT.
Sources
- Nvidia: NVIDIA Announces CEO Transition — November 12, 2026. Resignation effective immediately, Kress interim CEO and still CFO, CEO search with internal and external candidates, Jones as first-ever Chair and his Synopsys background, Jones and Kress quotes, 33 years, Kress's background, Q3 results date.
- Nvidia Form 8-K, Item 5.02 (SEC) — filed November 12, 2026. Board accepted the resignation on November 11, 2026; Kress CFO since 2013; Jones on the board since 1993.
- CNBC: Nvidia board meeting to decide CEO Jensen Huang's fate stretches into evening — November 11, 2026, updated November 12, 1:11am ET. Board meeting, WSJ and NYT reports, Wachtell hire.
- Reuters on X — November 12, 2026, 8:52am ET. First report of the resignation.
- Reuters on X: AI-linked stocks — November 12, 2026, 10:55am ET. Global AI-linked stocks "tumbled."
- Bloomberg on X — November 12, 2026, 11:12am ET. Huang agreed to testify before Congress before Thanksgiving, per House Foreign Affairs Chairman Brian Mast.
- CNBC on X — November 12, 2026, 11:11am ET. Trump's Truth Social post on Tim Cook.
