Nvidia Chief Executive Jensen Huang resigned from the semiconductor company on Thursday, November 12, 2026. The company’s market value fell below $4 trillion for the first time since July 2025 following the news, with shares down 4.8% at the time of the London equity market close. Colette Kress, Nvidia’s chief financial officer, has been named interim CEO while the board searches for a permanent successor.
The resignation followed Mr. Huang’s admission on Sunday, November 8, to an extramarital affair with Alice Huang. US intelligence officials reportedly identified Alice Huang as a suspected Chinese intelligence asset, leading to concerns regarding sensitive information and US restrictions on AI chip exports to China. Additionally, the New York Times reported that Mr. Huang had a second extramarital relationship with Kimberly Powell, Nvidia’s vice president of healthcare, who reported directly to him.
The Nvidia board is considering both internal and external candidates for the permanent CEO role. Internal candidates mentioned include Ms. Kress and Ian Buck, head of Nvidia’s AI efforts. External candidates identified by analysts and prediction markets include former Apple CEO Tim Cook and Arm Holdings CEO Rene Haas. US President Donald Trump stated on social media that Mr. Cook should take the position.
The scale of the impact is reflected in the company's valuation dipping below $4 trillion, a level it had maintained since July 2025. While the specific number of affected retail investors was not reported, the broad ownership of Nvidia through exchange-traded funds means individual brokerage accounts may see fluctuations. The situation also draws attention to the security of US intellectual property, as the reported involvement of a suspected foreign intelligence asset places Nvidia’s AI chip export protocols under increased scrutiny.
What happens next depends on the Nvidia board’s search for a permanent successor. While Ms. Kress has assumed interim duties, no specific deadline for a final hire was reported. Market observers are also monitoring the potential for further investigations into the company's data security. In the broader economy, investors are looking toward Friday, November 13, for the release of eurozone GDP data and US Producer Price Index (PPI) figures.