Huang’s resignation coincides with Reuters report of second relationship and Nvidia shares’ more than 4% drop
Key Facts
Jensen Huang resigned as Nvidia’s chief executive on Thursday, November 12, 2026, coinciding with a Reuters report that he had an intimate relationship with a second company employee, citing two people familiar with the matter. Reuters did not name the employee, while Nvidia declined to comment on the relationship; Huang, the employee and a board representative did not respond to requests for comment, according to the report. EL7 data showed Nvidia shares closed at $164.735 in the same session. The Associated Press said the stock fell more than 4% at the close after declining earlier in the day. The developments focus attention on a leadership transition at a company central to the AI chip market as investors await its upcoming financial results.
Chief Financial Officer Colette Kress took over as interim CEO after Huang’s resignation. Kress has served as Nvidia’s CFO and executive vice president since 2013, according to the Associated Press. The company said it is considering internal and external candidates for a permanent chief executive. The board also announced the appointment of Harvey C. Jones as the company’s first chairman. The arrangement marks the start of a transition period in which Kress will lead on an interim basis while the board completes its search and selects a permanent leader.
The report of a second relationship followed coverage of Huang’s relationship with Alice Huang, also known as Huang Lu, and his relationship with Kimberly Powell, Nvidia’s vice president of healthcare, according to Reuters. Reuters did not identify the second employee in its report on the intimate relationship. Huang acknowledged a relationship in a statement issued on November 8, following reports about his relationship with Alice Huang, without naming her, Reuters reported. The Associated Press said Nvidia announced on Sunday that it had opened an internal investigation following reports about the relationship with Alice Huang. In a message to employees on Sunday, Huang said his actions had hurt his wife and children, writing: "My actions hurt my wife and children."
Nvidia said its investigation would examine all available information and that it had no reason to believe national security or company secrets had been compromised. The company added, according to the Associated Press, that it still had confidence in Huang’s leadership when it announced the investigation on Sunday. Reuters reported that Nvidia shares had risen sevenfold through early October as demand for AI computing surged, and that the company’s market value at one point reached nearly $6 trillion. That puts the leadership transition in the context of a company whose shares have surged on demand for AI-related computing capacity. In Thursday’s session, the stock fell 14% at the opening bell before stabilizing, then closed down about 4%, according to the Associated Press.
Attention now turns to the announcement of results for the third quarter of fiscal 2027, which ended on October 25, 2026. Nvidia said it will hold a call to discuss the results on November 17 at 2 p.m. Pacific Time, or 5 p.m. Eastern Time. The company will publish Kress’s written comments on the quarterly results as soon as they are announced, at around 1:20 p.m. Pacific Time that day. The call comes in the days following Huang’s resignation and Kress’s appointment as interim CEO. The results and expected comments will be the company’s next near-term financial milestone after the leadership transition.