Jensen Huang resigns as Nvidia CEO; CFO Colette Kress named interim chief as stock plunges ~13%
What happened
Nvidia announced on Thursday, November 12 that co-founder Jensen Huang has resigned as president, chief executive officer and a member of the board, effective immediately, ending his 33-year tenure as the company's only CEO. Chief Financial Officer Colette Kress will serve as interim CEO while retaining her CFO role, and longtime director Harvey C. Jones, a former Synopsys CEO, was appointed Nvidia's first-ever chairman of the board. The board said it has begun a search for a permanent CEO and will consider internal and external candidates. Nvidia gave no reason for the resignation and Huang made no comment; the company statement thanked him for his 'immeasurable contributions' to the company and the industry. Shares fell 12.5% to $152.02 in premarket trading and were down 13.93% at the open, erasing roughly $500 billion in market value, with the Nasdaq Composite down 1.51% in the first minutes of trading.
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Start your free 14-day trialWho’s affected
- Nvidia (NVDA) — direct hit: shares down ~13-14% at the open, ~$500B of market value erased, and the stock fell to its lowest level since July 2025; the AI-chip trade broadly under pressure (the Nasdaq fell 1.5% at the open). Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL) and Amazon (AMZN) were modestly higher at the open, showing the selloff was Nvidia-specific rather than a broad mega-cap rout. Semiconductor and AI-infrastructure names (AMD, Broadcom, CoreWeave, Dell) face read-through risk from leadership uncertainty at the dominant AI chip supplier.