Nvidia’s board has initiated a search for a permanent CEO following the immediate resignation of founder and CEO Jensen Huang on November 12, 2026, after he disclosed an extramarital affair with a suspected Chinese intelligence asset. Colette Kress, Nvidia’s chief financial officer, has been appointed interim CEO while the board evaluates candidates.
President Donald Trump publicly endorsed Tim Cook, former Apple CEO, as Huang’s successor in a Truth Social post, stating, “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 to become executive chairman, has not publicly commented on the proposal.
Nvidia’s shares fell as much as 14.3% following Huang’s resignation before partially recovering, reflecting investor concern over the leadership transition. The company confirmed the board is considering both internal and external candidates, with prediction markets favoring Nvidia executive Ian Buck (38%), followed by Kress (15%) and Arm Holdings CEO Rene Haas (10%).
Huang’s Resignation and the Underlying Scandal
Huang’s departure followed revelations that he had maintained a long-term romantic relationship with Alice Huang, a Singapore-based tech executive not related to him. U.S. intelligence officials allege Alice Huang is an asset of China’s Ministry of State Security and may have facilitated the smuggling of Super Micro Computer products to China, according to reports. The Department of Justice is investigating her involvement.
In a companywide email, Huang stated, “I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry.” Nvidia did not disclose whether the affair or the alleged espionage activity influenced his resignation.
Board’s Succession Process and Market Reaction
Nvidia’s board has not publicly commented on Trump’s endorsement of Cook, nor has it provided a timeline for selecting a permanent CEO. Analysts note the transition could shape the future of the company, which dominates the AI chip market under Huang’s leadership.
Market analysts have highlighted the uncertainty. Ken Mahoney, president of Mahoney Asset Management, called Cook’s potential hiring “a mega long” for investors, while Dan Ives of Yorkville Ives & Co. described Cook as “the top candidate.” Prediction markets, however, suggest internal candidates like Buck remain favored.
Nvidia’s stock volatility underscores investor unease. The company, valued at $4 trillion, saw its market capitalization drop below that threshold following the news.
Trump’s Past Praise for Cook and Apple’s Role
Trump has repeatedly praised Cook, referring to him as “Tim Apple” and calling him “an incredible guy” and “an amazing manager and leader.” Trump has also urged Apple to expand U.S. manufacturing, citing a $500 billion investment the company has made domestically.
Cook, who succeeded Steve Jobs as Apple CEO in 2011, oversaw the company’s growth from a $350 billion valuation to briefly crossing the $5 trillion mark. His potential move to Nvidia would mark a significant shift from consumer electronics to AI-driven chip manufacturing.
Industry and Political Reactions
Reactions to Huang’s resignation have been mixed. Steve Sweeney, a tech executive, warned that firing Huang would be “a grievous harm to the United States” due to his role in advancing AI and GPU technology. Others, however, have emphasized the need for stability amid the scandal.
Political figures have not broadly commented on Trump’s endorsement of Cook, though his proposal adds a new dimension to the succession debate. Nvidia and Apple have not responded to requests for comment.