Nvidia has undergone a major leadership change after its co-founder and long-serving CEO, Jensen Huang, resigned amid allegations linked to an espionage controversy and questions surrounding his personal relationships. The company appointed Chief Financial Officer Colette Kress as interim CEO. The announcement triggered significant fluctuations in Nvidia shares.
Nvidia, one of the world's leading artificial intelligence (AI) chip manufacturers, has announced a major change in its leadership. The company's board accepted Jensen Huang's resignation on November 11, 2026, with the decision publicly announced on Thursday, November 12.
Huang has stepped down as President and Chief Executive Officer and resigned from his position on the company's Board of Directors. Nvidia's official announcement did not specify a reason for his resignation.
The company has appointed its current Chief Financial Officer, Colette Kress, as interim CEO. She will continue to hold both positions until a permanent successor is appointed. The board has initiated a search for a new CEO and will consider both internal and external candidates.
Nvidia has also appointed Harvey C. Jones as the first-ever Chair of its Board of Directors.
The controversy emerged towards the end of October following a report by The New York Times. According to the report, US intelligence officials had raised suspicions about Alice Huang, a former executive at Singapore-based data centre company Megaspeed International.
The report alleged that Alice Huang had close personal ties with Jensen Huang and that US officials suspected she was gathering sensitive information for China. These remain allegations connected to an investigation and have not been established as criminal offences in court.
On November 8, following the controversy, Jensen Huang sent a letter to Nvidia employees acknowledging that he had not been faithful to his wife. He also apologised to his family and colleagues.
Media reports have also raised allegations of another relationship involving a female Nvidia employee who reportedly reported directly to Huang.
Following the emergence of the espionage-related allegations, Nvidia's Board of Directors announced an independent investigation on November 8.
The company said a committee of independent directors would examine all available information with assistance from external legal experts. The investigation aims to determine whether foreign intelligence activities posed any threat to the company's confidential information or US national security.
Nvidia stated that it currently had no basis to believe that its trade secrets or national security interests had been compromised.
On November 9, US President Donald Trump said that the FBI was also investigating the matter. However, Trump made positive comments about Huang.
Amid the controversy, Singapore-based Megaspeed International has also issued a statement addressing the allegations.
The company's Chairman and CEO, Tan Yong Pong, also known as James Tan, issued a statement on November 12, saying that Megaspeed takes compliance with US export control laws seriously.
The company said it was cooperating with an investigation by the US Department of Commerce's Bureau of Industry and Security.
Megaspeed has also appointed a US law firm to examine its entire inventory of graphics processing units (GPUs) and conduct an independent review of its compliance with export regulations.
Questions have been raised over potential violations of US export restrictions involving Nvidia's advanced chips. However, Megaspeed has reiterated its commitment to complying with applicable regulations.
