Huang’s November 12 resignation from NVIDIA shifts leadership and puts chip export policy back in focus
Key Facts
NVIDIA announced on November 12, 2026, that Jensen Huang had resigned, effective immediately, as president, CEO and a member of the board, in a leadership shift as Washington’s scrutiny of chip export policy toward China intensifies. The company appointed Chief Financial Officer Colette Kress interim CEO while it selects a permanent successor. Kress said the search for a new CEO would include internal and external candidates. The board also appointed Harvey C. Jones as the first chairman of the board in the company’s history. The board said it expects operations, customer commitments and the product roadmap to continue without interruption during the transition.
The change means Huang is leaving both the company’s leadership and its board, while Kress assumes executive responsibility and continues as executive vice president and CFO. The company did not specify in its statement when it would select a permanent successor, but said Kress would remain interim CEO until one is appointed. Appointing a board chairman establishes a new leadership structure for the board alongside the transition in the CEO role. The board emphasized that the change is not expected to disrupt the company’s customer commitments or product plans. In its statement, it said: "We expect the company’s operations, customer commitments and product roadmap to continue without interruption."
The resignation carries significance beyond the management transition because it is tied to NVIDIA’s access to the Chinese market and U.S. chip export controls. Reuters reported that Huang had sought to preserve the company’s access to the Chinese market and that his departure could have broad implications for export policy and the wider AI ecosystem. The Associated Press reported that Huang had pushed to ease AI regulation, including restrictions on selling the company’s chips to China. The agency added that some analysts believe allegations that he was targeted by a foreign intelligence service could strengthen calls in Washington for tighter export controls. NVIDIA’s board announced on November 8 that it had opened an independent investigation following reports that Huang was targeted by a foreign intelligence service.
The resignation came days after reports of board discussions about Huang’s position, as political calls to tighten restrictions on chip exports to China intensified. Reuters reported that NVIDIA’s board discussed on November 11 whether to remove Huang. The agency said lawmakers had begun pushing for tighter restrictions on chip exports to China. Reuters also reported that senior White House officials were discussing the possible removal of Commerce Secretary Howard Lutnick amid questions about the administration’s oversight of chip sales to China. The Commerce Department had no immediate comment, according to the report.
The announcement weighed on trading that day, with major U.S. stock indexes opening lower and the Nasdaq down 1.47% at the open, Reuters reported. By the market close, NVIDIA shares had fallen more than 4%, after dropping sharply earlier in the session, according to the Associated Press. Reuters said the stock was down about 4.8% during the session after trimming earlier losses. By contrast, AMD and Broadcom shares each rose about 6%, the agency reported. The S&P 500, Dow Jones and Nasdaq each ended the November 12 session down 0.4%, after the S&P 500 erased losses of nearly 1% early in trading.
Markets are watching the next steps in the leadership transition ahead of the company’s fiscal 2027 third-quarter results. NVIDIA said results would be released on November 17, 2026, as scheduled. The company set the results announcement for about 1:20 p.m. Pacific time. The results call will be held at 2 p.m. Pacific time. Kress’s appearance at the event would put the interim management team’s first major financial communication since Huang’s departure in focus for investors.