Nvidia announced Thursday that Jensen Huang has resigned as president, chief executive and board member, effective immediately. CFO Colette Kress will serve as interim CEO while the board searches for a permanent successor. Nvidia shares opened at $151.00 on Nov. 12 against a previous close of $173.73, then recovered to close at $166.19, down 4.34%.
What Nvidia announced
The board said Kress will keep her CFO role while she serves as interim CEO. It will consider internal and external candidates for the permanent job. The company did not give a reason for Huang's departure.
Harvey C. Jones was appointed the board's first-ever chair. He has been an entrepreneur, technology executive and venture investor for more than 30 years, and he served as CEO and executive chairman of Synopsys. Kress joined Nvidia in September 2013 after nearly 25 years in finance roles at Cisco and Microsoft, among other technology companies.
"The Board has full confidence in Colette and the leadership team, and 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."
Nvidia said it will still report third-quarter fiscal 2027 results on Tuesday, Nov. 17, at about 1:20 p.m. PT, with a call at 2 p.m. PT.
The announcement follows days of pressure on Huang. The board opened an independent investigation after reports that he had a relationship with a woman US intelligence officials believed was working for Beijing. At that time, the board said it had no reason to believe national security or company secrets were compromised, and a spokesperson said Huang would keep leading. Three House Republican committee leaders had also asked him to appear later this month. Nvidia's statement on Thursday does not mention the investigation or say whether it has finished.
How the stock traded
The session shows a sharp gap down and a partial recovery. Shares hit a low of $148.80, which is also the 52-week low, and reached a high of $167.14. They closed at $166.19, down $7.54. In pre-market trading afterward, the stock was at $169.91, up 2.24%.
Nvidia's market value stood at about $4.01 trillion at the close. The 52-week high is $243.37. Nvidia was worth around $4.5 trillion when the earlier reports about Huang surfaced, and the stock fell more than 5% in pre-market trading on that news, which cut roughly $225 billion in market value. Thursday's close sits well below both marks.
Employee reaction and an unverified letter
Many Nvidia employees commented in support of bringing Huang back on an internal suggestion box post, which drew more than 1,600 replies, according to a Wired report.
BREAKING: hundreds of NVIDIA employees have signed an internal letter demanding the reinstatement of Jensen Huang as CEO and the resignation of the board pic.twitter.com/yEQMKAajh3
— zack (@zack_overflow) November 13, 2026
A separate document is also circulating online. It is presented as a letter from Nvidia employees to the board, and it says the board "terminated" Huang. It says the signatories "may choose to resign from NVIDIA and join the SpaceX Terafab initiative" under Huang and Elon Musk unless the current board resigns, appoints new independent directors and reinstates Huang.
What to watch next
Nvidia has never had a conventional split between a chair and a chief executive during Huang's tenure, so the first-ever chair role marks a structural change as well as a personnel one. The earnings report on Nov. 17 will be the first chance to hear from Kress as interim CEO. The board has not named a timeline for the search.
Huang has not issued a statement since the announcement, and the company has not said whether he will keep any role. His earlier message to staff said he took "full responsibility" and was committed to the company.
Jordan V.
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