Huang Renxun resigns as NVIDIA CEO, CFO Kress takes interim role
NVIDIA's board has approved the resignation of co-founder Jen-Hsun Huang from the positions of President, CEO, and Director, effective immediately; Executive Vice President and CFO Collette Kress appointed as interim CEO and continues to hold the position of CFO until a permanent successor is found. Board Chairman Harvey Jones stated that the resignation occurred after the board launched an investigation into multiple extramarital affairs involving Huang with a direct subordinate and a person accused of being a Chinese spy. The news triggered a sharp decline in global AI concept stocks, with NVIDIA's stock price falling 8.2% in the morning, with its market value falling below $400 billion for the first time since July 2025. The U.S. Department of Justice is conducting multiple investigations into NVIDIA, including one involving antitrust, and two others involving Megaspeed and Supermicro Computers; currently, there is no indication that the Department of Justice plans to criminally prosecute NVIDIA or Huang. Huang's departure comes as Anthropic is advancing its IPO: its subscription demand is about 6 times the number of shares available for sale, the company and its co-founders plan to raise up to $64.4 billion through the IPO and $26 billion through private placement, with a target valuation of about $1.4 trillion, NVIDIA plans to subscribe to about $10 billion in the private placement.
LatestHuang Renxun's departure from NVIDIA marks the end of the visionary showman founder-CEO era.