The resignation and the transition
Jensen Huang is no longer CEO of Nvidia. The Korea Herald reports that the announcement came on Thursday, with immediate effect, and also covers the roles of president and member of the board of directors. Huang, 63, had led the company since 1993, the year of its founding, and had made it the leading supplier of processors for artificial intelligence.
In his place, as interim CEO, the board named Colette Kress, chief financial officer since 2013, who will also retain the finance role. The search for a permanent successor is under way and, according to the company, will consider internal and external candidates. The board also appointed a chairman of the board for the first time, selecting Harvey Jones, a longtime director and former CEO of Synopsys.
The accusations and the denials
The resignations stem from revelations about extramarital relationships. The source specifically cites a relationship with Alice Huang, former executive at Megaspeed International, a Singapore-based data center operator, a woman who, according to U.S. intelligence, is suspected of espionage for China. The case worsened on Wednesday, when The New York Times reported a second relationship, with Kimberly Powell, Nvidia vice president for healthcare, who reported directly to Huang.
The company said it had no reason to believe that national security or confidential information had been compromised. China denied the espionage accusations against Alice Huang. The board, according to the material, had expressed confidence in Huang on Sunday while launching an independent investigation. The source does not clarify whether the investigation is complete or what results it produced beyond the resignations.
Markets and partners under scrutiny
Reactions in the markets were immediate: Nvidia shares fell more than 10 percent in Thursday's U.S. premarket trading. The company sought to reassure customers and investors, saying through Jones that operations, commitments to customers and the product roadmap would continue without interruption. Kress expressed her intention to build on Huang's legacy while maintaining focus on customers and partners.
The transition also turns attention to relations with South Korean partners Samsung Electronics and SK hynix, which supply critical memory for Nvidia's AI processors. The company confirmed that it will report third-quarter results for fiscal year 2027 as scheduled on November 17. On the basis of the material, the outcome of the internal investigation, the legal consequences of the case and the timing of the succession remain to be verified.
