SACRAMENTO – Jensen Huang’s 3-decade journey at NVIDIA comes to end amid allegations involving extramarital affairs and suspected Chinese intelligence links, and now he has stepped down, as the company named longtime CFO Colette Kress as interim CEO, as a massive Wall Street selloff threatens to erase over $500 billion from NVIDIA’s market value.
AI chip giant appointed its longtime Chief Financial Officer Colette Kress as interim CEO, while the controversy has triggered a selloff. The announcement marks end of Huang’s leadership of NVIDIA, the technology powerhouse he co-founded long ago.
His sudden departure has placed Kress at the helm of one of the world’s most influential artificial intelligence companies during an unprecedented corporate crisis.
Who is Colette Kress, NVIDIA’s New CEO?
Colette Kress is veteran technology executive with extensive financial leadership experience, and has taken charge of NVIDIA following Huang’s resignation as CEO, President and board member.
She joined NVIDIA in 2013 and served as Executive Vice President and Chief Financial Officer for more than a decade. Before joining NVIDIA, she held senior financial positions at Microsoft, Cisco and Texas Instruments, gaining experience across some of America’s biggest technology companies.
During her tenure at NVIDIA, Kress plays role in overseeing the company’s finances as it expanded from graphics processing into artificial intelligence, data centers and advanced computing. Her appointment comes as NVIDIA confronts growing investor anxiety, regulatory scrutiny and questions about its future without Huang.
Kress will continue performing her CFO responsibilities while serving as interim CEO until the board appoints a permanent successor. NVIDIA also named Harvey C. Jones as Chairman of the Board. Jones expressed confidence in Kress’s leadership and the management team’s ability to maintain operations and deliver on existing commitments.
The leadership crisis erupted after reports surfaced about Huang’s extramarital relationships, including one involving Alice Huang, a businesswoman associated with Singapore-based technology company Megaspeed.
Alice Huang reportedly been suspected by US intelligence officials of having connections to Chinese intelligence operations, raising serious questions about potential national security implications.
The new interim CEO faces immediate challenge as NVIDIA prepares to release its quarterly financial results on November 17. Investors will closely monitor AI chip demand, data center revenue, profitability and the company’s future growth projections.
NVIDIA CEO Jensen Huang faces Ouster as Chinese Spy Affair sparks Massive Market Losses
