President Donald Trump authorized a crackdown on companies suspected of diverting Nvidia’s advanced AI chips to China. Treasury Secretary Scott Bessent confronted Commerce Secretary Howard Lutnick over the failure to flag Nvidia customer Megaspeed for export controls. Nvidia’s board appointed CFO Colette Kress interim CEO while she retains her current duties. Kress has served as CFO since September 2013, during which annual sales grew from $4.28 billion to $215.9 billion.
Chief Financial Officer Colette Kress took over as interim CEO while retaining her finance role, as the board began searching for a permanent successor and set Nov. 17 for the company’s results.
Read the full storyThe board begins a search for a permanent successor while continuing to examine allegations linked to a foreign intelligence effort and facing scrutiny over the company’s financing ties with customers.
Chris will combine the chief executive and finance roles as the board searches for a permanent successor, while markets await third-quarter results due on November 17.
Jensen Huang resigned as CEO effective immediately following a spy scandal and alleged ties to an executive at Megaspeed.