NVIDIA's Jensen Huang Resigns After 33 Years, As Interim CEO Steps In

Jensen Huang, arguably the most famous leather jacket-wearing figure of the modern era (with apologies to Indiana Jones, Andrew Dice Clay, and Fonzie), is officially out at NVIDIA. After 33 years at the company he co-founded, Jensen has resigned as president and CEO, effective immediately, according to an announcement by NVIDIA's Board of Directors. He's also stepped down from the board itself.

His departure would have been a shocking development just a week ago, given his long tenure and NVIDIA's explosive growth into one of the driving forces behind the AI boom. However, his standing came under scrutiny when Jensen admitted to having an extramarital affair with Alice Huang (no relation), a woman whom U.S. intelligence officials suspect was recruited as part of a Chinese espionage campaign targeting the high-profile CEO.

Even then, it was far from certain that Jensen would step down voluntarily or be forced out, especially after President Donald Trump made remarks that appeared to defend the embattled CEO. During a White House briefing, Trump confirmed that the FBI was investigating the allegations, but expressed confidence that Jensen would "be in good shape" when all was said and done. He also described Jensen as an "honorable man."

However, the controversy deepened when The New York Times reported that Jensen had also engaged in an extramarital affair with Kimberly Powell, NVIDIA's vice president of healthcare. Neither NVIDIA nor the individuals involved have publicly confirmed the alleged relationship, but the latest revelation may have prompted the Board to reconsider Jensen's future at the company. Whether he resigned entirely of his own accord or faced pressure to step aside remains unclear, particularly given that his departure comes before the conclusion of the Board's investigation.

Either way, it's the end of an era and the beginning of a new one. Speculation is already swirling on social media about who might succeed Jensen as NVIDIA's permanent CEO. In the meantime, the Board has appointed Colette Kress, NVIDIA's executive vice president and chief financial officer, to lead the company on an interim basis while it searches for a permanent replacement. Kress will also retain her existing roles as EVP and CFO.

"Colette has helped lead NVIDIA through a period of extraordinary growth and has a deep understanding of our business, customers, operations and financial position," said Harvey Jones, Chair of the NVIDIA Board of Directors. "She is supported by an experienced leadership team that has been instrumental in executing NVIDIA’s strategy and advancing its technology roadmap. The Board has full confidence in Colette and the leadership team, and we expect the company’s operations, customer commitments and product roadmap to continue without interruption."

In some circles, Colette was considered a leading candidate to succeed Jensen. That possibility remains on the table, though the Board's decision to appoint her on an interim basis while searching for a permanent CEO leaves the door open to other candidates. The challenge, of course, is finding someone qualified to lead one of the world's largest technology companies. NVIDIA reported a staggering $96.2 billion in revenue last quarter, up 106% year-over-year. Its Data Center division accounted for the lion's share, generating $89 billion on the back of insatiable demand for NVIDIA's AI chips.

"NVIDIA’s strength has always come from its people, and together with our leadership team, I am committed to building on the extraordinary foundation Jensen created over the last 33 years," said Colette Kress, Interim CEO and CFO, NVIDIA. "We will continue advancing the work that has made NVIDIA a leader in accelerated computing and AI, and execute on the opportunities ahead. Our focus remains on serving our customers, partners, developers and shareholders."

In its announcement, the Board described Jensen's impact on NVIDIA as "profound," arguably an understatement given the company's meteoric rise under his leadership. It also thanked him for his "immeasurable contributions" to NVIDIA and the broader technology industry.