Nvidia announced Thursday that CEO Jensen Huang has resigned effective immediately, following an internal investigation and reports of an extramarital affair with a technology executive linked to suspected Chinese intelligence activity. The company named Chief Financial Officer Colette Kress as interim CEO while its board initiates a search for a permanent successor, considering both internal and external candidates.
Trump endorses Tim Cook as potential replacement
President Donald Trump publicly endorsed former Apple CEO Tim Cook as a candidate to replace Huang, writing on Truth Social: “NOW THAT Nvidia CEO JENSEN HUANG, who has done a fantastic job, has resigned, there is only one man to take his place – TIM COOK of Apple. A Legend replaces a Legend!” Cook, who stepped down as Apple’s CEO earlier this year, currently serves as Apple’s executive chairman.
Market reaction and leadership implications
Nvidia’s shares fell as much as 14.3% in early trading following the resignation announcement before partially recovering. The company, co-founded by Huang in 1993, has seen its stock value surge in recent years due to its dominance in AI chip production. Huang’s departure leaves a leadership void at a critical juncture for the company, which has become central to global AI infrastructure.
Board confirms investigation and resignation
Nvidia stated in a regulatory filing that Huang’s resignation followed an internal review and that the company is evaluating its next steps. The board did not provide further details about the investigation or the reasons behind Huang’s decision. Huang, who co-founded Nvidia in 1993, had led the company for 33 years, overseeing its transformation into a leader in graphics processing units (GPUs) and AI accelerators.
Industry and analyst reactions
Technology analyst Dan Ives of Yorkville Ives & Co. told Newsweek that Cook is considered a top candidate for the role, citing his experience in navigating high-profile corporate transitions. Other industry figures, such as Epic Games CEO Tim Sweeney, publicly defended Huang’s legacy, calling any decision to remove him “an honor” and praising his contributions to the tech industry.
Ongoing developments
Nvidia has not disclosed additional details about the internal investigation or the nature of the allegations. The company’s board has initiated a formal search process, with no timeline provided for a final decision. Industry observers note that the choice of successor could significantly influence Nvidia’s strategic direction amid intensifying global competition in AI chip development.