Nvidia names Colette Kress CEO after Jensen Huang exits amid scandal

• Huang steps down after affair, espionage allegations, and export violation probe
• Nvidia shares fall 10%; company launches board investigation as $4T tech giant faces regulatory scrutiny

On November 12, 2026 (UTC), Reuters reported that Nvidia, valued at nearly $4 trillion, announced the immediate resignation of longtime CEO Jensen Huang following allegations including extramarital affairs, alleged espionage links, and suspected U.S. chip export regulation violations. Colette Kress, Nvidia’s Chief Financial Officer, has been named interim CEO and remains CFO, marking a major leadership shift at a company pivotal to global AI markets. The board confirmed Wachtell Lipton will lead an independent investigation concentrating on ties to Alice Jensen, identified as a suspected Chinese intelligence agent employed by Megaspeed, an Nvidia customer. Huang admitted to marital misconduct but categorically denied mishandling company secrets or compromising national security.

The crisis has drawn heightened regulatory scrutiny and renewed congressional debates over Nvidia’s business practices and political connections, particularly after Huang’s recent lobbying activity and links to former President Trump. The board has opened a search for a permanent CEO, evaluating internal and external candidates, while appointing Harvey C. Jones as Nvidia’s first board chair—a significant change in corporate governance.

The impact was immediate: Nvidia shares dropped 10% in pre-market trading on November 12, underscoring investor anxiety over the company’s strategic direction amid leadership upheaval. Analysts are closely watching for potential shifts in Nvidia’s AI and semiconductor priorities and any change in its competitive position. Nvidia reiterated its commitment to accelerated computing and advanced AI infrastructure, according to a November 12 press release.

The ongoing board investigation, abrupt market response, and intensified regulatory pressure highlight Nvidia’s global influence and raise compelling questions about its leadership stability and compliance as it faces one of the most consequential transitions in its history.