A mounting scandal over Jehnsen Huang’s alleged links to a suspected Chinese intelligence operative has triggered a leadership crisis at Nvidia, with the company’s board reportedly moving to replace its co-founder.
BY PC BUREAU
Nvidia is facing an abrupt leadership transition as CEO Jensen Huang has stepped down amid mounting controversy over his alleged links to a Chinese businesswoman accused of espionage. The company’s Chief Financial Officer, Colette Kress, will take over as interim chief executive, Nvidia said in a statement on Thursday.
Huang, 63, who co-founded the semiconductor giant, will also leave the company’s board of directors. Nvidia said it would begin searching for a permanent successor, considering both internal and external candidates.
“The Board is initiating a search for a permanent Chief Executive Officer and will consider internal and external candidates,” the statement said.
Pressure had been mounting on Huang following reports of his alleged relationship with Alice Huang, a Chinese businesswoman suspected by US intelligence agencies of having links to Beijing’s intelligence network. The controversy intensified on Thursday after reports emerged of a second alleged extramarital relationship involving a subordinate who reportedly worked directly under him.
Following the latest revelations, Nvidia’s board reportedly met on Wednesday to discuss Huang’s future at the company.
Last month, The New York Times reported that US intelligence agencies had uncovered a close relationship between Huang and Alice Huang, alleging that she had been passing intelligence to Beijing.
Nvidia announced an internal investigation on Sunday. US President Donald Trump subsequently confirmed on Monday that the FBI was also examining the matter.
READ | Alice Huang Back to China, Living In Beijing Amid Nvidia Espionage Row
Nvidia has said it has found no reason to suspect that national security or confidential company information was compromised. However, the company said its investigation would examine all available information.
okay, so this just got a lot more serious.
NVIDIA has officially announced Jensen Huang’s resignation, effective immediately.
and this isnt only a case of someone leaving their job. we’re talking about the man who co founded NVIDIA in 1993 & led the company for 33 years.
here’s what’s happening:
> Jensen Huang is out.
he’s stepping down as NVIDIA’s President, CEO & board member.. his departure takes effect immediately.
> Colette Kress is taking over.
NVIDIA’s current CFO has been appointed interim CEO. she’s been with the company since September 2013 & will retain her CFO position while serving as interim CEO.
> NVIDIA is looking for a permanent replacement.
The board has confirmed that it’s beginning a search for a new CEO, considering both internal and external candidates.
> there’s also a new board chair.
Harvey C. Jones has been appointed as NVIDIA’s first-ever Chair of the Board.
but here’s the part I’m paying attention to.
NVIDIA says it expects operations, customer commitments and its product roadmap to continue without interruption.
in other words, the company wants investors, developers & partners to know that Jensen leaving doesn’t mean the entire machine is stopping.
and tbh, that’s probably the biggest question right now.
Jensen wasn’t only another CEO.
he was the face of NVIDIA’s rise, & his leadership became closely tied to the company’s identity and its position in the AI industry.
so the question isn’t only about who replaces him.
it’s whether NVIDIA can maintain the same momentum without the person who built it.
also.. NVIDIA’s next quarterly earnings report is scheduled for November 17.
that’s going to be an interesting one to watch.
one thing is certain: the AI industry just entered a very different chapter.
and im not sure the market has finished reacting to this yet.
— ALG∑BRA (@CallMeAlgy) November 12, 2026
Trump Says Huang Had No Knowledge of Alleged Espionage
US President Donald Trump said on Monday that Huang had told him he was unaware that Alice Huang was allegedly working for Chinese intelligence. Trump added that he believed the Nvidia chief’s explanation.
“I asked him that question, ‘Did you have any idea that she was a spy?’ He said, ‘I had no idea that she was a spy,’ and I really believe him,” Trump told reporters at the White House.
“I know the FBI is looking into it,” Trump said, adding that he believed Huang would be “in good shape”.
China has rejected allegations of involvement in any attempt to compromise Huang, who leads one of the world’s most valuable technology companies.
Under Huang’s leadership, Nvidia emerged as the dominant manufacturer of semiconductors powering the global artificial intelligence industry. His lobbying efforts in Washington also helped secure approval from the Trump administration in January for the export of H200 chips to China.
Jensen Huang resigned effective immediately as President, CEO, and board member of Nvidia. 🇺🇸
Set aside the scandal that cost him his job for a moment and consider what Jensen Huang actually built. He leaves behind the first company in human history to reach a $5 trillion valuation, the undisputed engine room of the artificial intelligence revolution, and a chip architecture that powers virtually every major AI breakthrough.
Thank you Jensen. 🙏— Donald J Trump Posts TruthSocial (@TruthTrumpPost) November 12, 2026
Nvidia Shares Plunge 13%
Nvidia shares fell 13 per cent in premarket trading on Thursday as investors reacted to the leadership upheaval and the uncertainty surrounding the company’s future.
The stock has lost more than a third of its value since reaching a record high last month, wiping approximately $1.7 trillion off Nvidia’s market capitalisation.
Investors will now be looking for clarity on the company’s leadership and business outlook ahead of its quarterly earnings announcement next week.
Nvidia said it would release its third-quarter fiscal 2027 results on Tuesday, November 17, at approximately 1:20 p.m. Pacific Time. The results conference call is scheduled for 2 p.m. PT, as previously announced.
