Nvidia live updates: Jensen Huang resigns, CFO Colette Kress to serve as interim CEO Yahoo Finance Updated Thu, November 12, 2026 at 9:37 AM EST 2 min read NVDA -8.45% Trade NVIDIA on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Nvidia (NVDA) stock tanked in premarket trading after Jensen Huang resigned as CEO. The company's CFO, Colette Kress, will serve as the interim head of the business until a permanent successor is named.
The leadership shakeup followed a report from The New York Times on Wednesday that embattled Nvidia (NVDA) CEO Jensen Huang was allegedly involved in a second extramarital affair. The company's board was reportedly meeting on Wednesday night to determine if it will oust Huang as chief executive, the Wall Street Journal reports.
According to the report, Huang, whose relationship with a woman alleged to be a Chinese spy has embroiled the company in scandal this week, also had a relationship with Nvidia executive Kimberly Powell. The Times report says that Huang and Powell were seen being affectionate at a hotel during a company conference in March.
Huang was already under investigation for an affair with Alice Huang, an alleged Chinese spy. The CEO admitted the affair in a memo to employees. "I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry," Huang wrote.
The Information reported on Tuesday that Alice Huang is believed to be involved in a network of Chinese companies that facilitated the shipment of $7.5 billion in chip sales to China.
Given the size and importance of Nvidia in the stock market today, the revelation marks one of the biggest CEO-personal conduct scandals in history. It also highlights Nvidia's key-person risk and uncertain succession plan as questions swirl about whether the board will ask Huang to step down.
The news has drawn immediate and varied reactions from leaders ranging from the US president to other CEOs. President Trump stood by Huang, calling him "an honorable guy," but other members of the president's party are expected to put more scrutiny on the company. Trump also stated on Monday that the FBI was looking into Huang's relationship.
Follow along for live updates and reactions.
Featured 41 mins ago Grace O'Donnell Nvidia CEO Jensen Huang resigns Nvidia's board of directors announced on Thursday that longtime CEO Jensen Huang will resign, effective immediately.
The company's CFO, Colette Kress, will step in on an interim basis as chief executive.
"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," Kress said. "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."
The board noted Huang's "profound" contributions to the business, despite his recent downfall due to two extramarital affairs.
Nvidia will still report earnings on Tuesday, Nov. 17, as scheduled.
Nvidia (NVDA) stock dropped as much as 13% in the first few minutes of trading, on track to destroy roughly $440 billion in value, after CEO Jensen Huang resigned.
Nvidia's market cap dropped to $3.75 trillion. At one point, Nvidia was a $5 trillion company and the largest company in the world. On Thursday, the company slipped to No. 3 by market cap, falling behind Apple (AAPL) and Microsoft (MSFT).
Go deeper with AlphaSpace 159.05 -14.68 (-8.45%) As of 9:40:25 AM EST. Market Open. 7 mins ago Ben Werschkul Planning Nvidia investigations, top Democrats tell Trump administration to 'preserve all records' Democratic Senators Elizabeth Warren of Massachusetts and Chris Coons of Delaware have formally asked the Trump administration to "preserve all records" related to the administration's dealings with Nvidia (NVDA) as Democrats prepare to take power on Capitol Hill in 2027 and promise to probe the issues surrounding CEO Jensen Huang's departure.
The request came in a letter Wednesday evening targeting any administration materials related to the chipmaker's exports to China as well as the ousted CEO's affair with a suspected Chinese intelligence asset.
The letter was directed to Commerce Secretary Howard Lutnick, Secretary of State Marco Rubio, and White House chief of staff Stephen Miller and noted reports that Trump officials were aware of concerns about Nvidia "yet did not move to block the continued flow of advanced AI chips to Megaspeed or other companies affiliated with the suspected operative."
The White House didn't offer an immediate response Thursday morning. The letter asked the officials to confirm by next Tuesday that they will comply and have begun the document preservation process. Read more.
Nvidia (NVDA) stock sank 13% at the open on Thursday after the AI chip giant announced that Jensen Huang has resigned as CEO and CFO, and Collette Kress will be interim CEO until a permanent successor is selected.
The company's market cap fell below $4 trillion. Shares of the AI chip maker are down more than 30% over the past month.
Yorkville's Dan Ives has lowered his price target on Nvidia following reports that the AI chip giant's board is working with an outside firm to identify a possible successor to CEO Jensen Huang.
"We are lowering our price target from $300 to $225 now factoring in Jensen Huang is no longer CEO of Nvidia and will likely be removed by the board over the next 24 hours," wrote Ives on Thursday morning.
"While this is a quickly moving story, the NY Times second affair story was the straw that broke the camel's back for the board in our view, along with what in shaping up to be a groundswell gaining major momentum on both sides of the aisle in DC to focus on Jensen, Nvidia, Megaspeed, and China chips," he added.
The challenges for Nvidia (NVDA) are only just beginning should embattled founder Jensen Huang get ousted. The company's board is reportedly meeting to determine if it will remove Huang as chief executive, the Wall Street Journal reported late Wednesday.
"In our view, what matters for the stock from here is less whether a change occurs than how it is executed," Stifel analyst Ruben Roy said.
Here are several challenges for the legion of Nvidia investors to follow in this unusual, fast-moving situation.
The read-through of any interim CEO
Huang famously has 60 or so direct reports at Nvidia and no succession plan — at least one he has shared publicly. If Huang is ousted, longtime CFO Colette Kress could get the interim CEO tag. She is one of the most respected CFOs in the game.
However, if an interim CEO stays on for a while, it could only increase the uncertainty on Nvidia's future.
In either outcome — Kress or an outside CEO — Nvidia's valuation could be capped in the near term given uncertainty about who will drive the product vision Huang has set since founding in 1993.
Wall Street is finally moving to distance itself from stricken former AI stock darling Nvidia (NVDA) given the uncertainty surrounding its embattled founder, Jensen Huang.
Oppenheimer just took the eye-opening move (at least from a stock analyst perspective) to completely remove its price target on Nvidia as the Jensen Huang saga ratchets up.. This action is usually taken on sub-$10 stocks that are highly volatile after a major negative event. Not one of the world's largest, most important companies.
Oppenheimer's Rich Schafer: "We are downgrading shares of NVDA and removing our price target following reports (WSJ, NYT) of founding CEO Jensen Huang's imminent departure amidst allegations of a 2nd extramarital affair. Credible media reports circulated Wednesday evening that NVDA's board is preparing to part ways with Huang following a widely reported relationship with an alleged Chinese spy compounded by new allegations of a relationship with an NVDA executive. This "one-two" punch appears to have forced the board's hand. Huang's role as the "face of AI" cannot be overstated. His uniquely skillful, forward-thinking, steady and tireless leadership has been critical to NVDA's success in becoming the undisputed AI leader and world's largest company. Huang is a hands-on leader with dozens of direct reports. We believe he is deeply involved in all strategic decision making. We see massive shoes to fill and no obvious successor. His departure presents a material, potentially thesis-changing event. NVDA boasts an incredibly deep bench of talent. We see risk that a Huang departure creates a 'brain drain' situation at the AI giant, threatening NVDA's pace of innovation — a critical competitive advantage."
There was still no word Thursday morning on the outcome of an Nvidia board meeting held Wednesday to determine Jensen Huang's future, following a New York Times report that the CEO had a second extramarital affair, this time with an Nvidia executive who reported to him.
The Wall Street Journal reported that the board was preparing to oust Huang, while Bloomberg reported that directors were working with an outside firm to identify potential successors and were considering naming an interim CEO.
If Nvidia's (NVDA) board moves to oust Jensen Huang, history suggests the first day's move won't say much.
Yahoo Finance looked at six big companies whose CEOs left over relationships or misconduct allegations: Boeing (BA) in 2005, HP (HPQ) in 2010, Best Buy (BBY) in 2012, Wynn Resorts (WYNN) and Intel (INTC) in 2018, and McDonald's (MCD) in 2019.
First-day reactions ranged from a drop of about 8% to a gain of nearly 9%, with a median dip of about 3%.
The year that followed was rougher. Four of the six stocks trailed the S&P 500 (^GSPC) over the next 12 months, by a median of about 12 percentage points.
The worst of the six was HP. Mark Hurd was a star operator Wall Street trusted to keep the turnaround going, and the stock lagged the market by nearly 40 points in the year after he left. Wynn Resorts, the only founder in the group, jumped on Day 1 and then trailed the market by more than 20 points.
Admittedly, sample is small, spans different eras, and has no founder of a $5 trillion company.
Jensen Huang's immense amount of control over Nvidia, and the lack of a clear successor to take up the mantle, has placed on the chip giant a large dose of so-called key-man risk. It's something Nvidia's disclosed before.
Writing in its 2026 annual filing, the company acknowledged it is "highly dependent on the services of our longstanding executive team," helmed by leaders like Huang.
"Failure to ensure effective succession planning, transfer of knowledge, and smooth transitions involving executives and key employees," the company disclosed, "could hinder our strategic planning, execution, and long-term success."
If Huang were to step down from his position or be removed by Nvidia's board, the move would leave a gaping leadership hole at the top of one of the world's most important companies.
The succession of hits to Nvidia (NVDA) from the post-election sell-off to CEO Jensen Huang's affairs is driving shares to their lowest level in over a year.
The once $5 trillion company — the largest in the world — is likely to open with a market capitalization below $4 trillion, surpassed by both Apple (AAPL) and Microsoft (MSFT) in value.
The Wall Street Journal reported on Wednesday that top Democratic Sens. Elizabeth Warren and Chris Coons are asking the Trump administration to retain records related to Nvidia CEO Jensen Huang's affair with a suspected Chinese spy and the company's chip exports to China.
"This incident raises significant concerns about the federal government's ability to effectively enforce our export controls and protect our national security," the senators wrote in the letter, per the Journal.
The request to preserve records often precedes an investigation. Democrats in Congress have sent similar letters to American corporations amid fresh scrutiny over affordability concerns and ties to the Trump administration.
Alice Huang, the alleged Chinese spy and Megaspeed executive at the center of the Jensen Huang scandal, is believed to be living in Beijing, according to Bloomberg.
According to the report, Chinese security officials are aware of her presence in the capital, though it's unclear when she traveled there. Beijing has denied that Huang was a spy.
Nvidia's board launched an investigation into her relationship with CEO Jensen Huang, sparking a firestorm of controversy for the company, its AI peers, and its investors.
Nvidia stock's market value keeps dropping with every Jensen Huang update.
At its overnight low of $156.20, Nvidia had lost more than $600 billion in market value since last Thursday, by Yahoo Finance calculations. Most of that came after Wednesday's closing bell.
Measured from its Oct. 6 record close of $239.24, the damage comes to about $2 trillion. That's more than the entire market value of Meta (META), Broadcom (AVGO) or Tesla (TSLA).
The plunge also knocked Nvidia through a floor near $164 that had held twice in the past 14 months, in September 2025 and again in March. At the overnight low, the stock was at its lowest level since July 2025.
Watch whether Nvidia can climb back above $164. If it can't, the old floor becomes a ceiling, and the next shelf sits near $141 to $144. That's the base the stock built in June 2025 before it launched higher.
Longtime Nvidia (NVDA) bull and Yorkville Ives partner Dan Ives said that an exit by CEO Jensen Huang is now in the cards following a report that Huang had a second affair with Kimberly Powell, Nvidia's vice president of healthcare, who is an executive who reports to him.
"In our view the writing is on the wall that Jensen's days at Nvidia could be numbered and we would expect this to be a very fluid situation over the next 48 hours," Ives wrote in a note. "Jensen has created a black eye moment for himself and Nvidia and now has created a spider web of complexity that Wall Street, Silicon Valley, DC, and the global tech ecosystem are trying to figure out what is next."
Ives noted that the recent news of Huang's affairs has permanently altered customers' and the public's perception of the CEO and the company — a situation that Ives said is getting "worse by the day."
"While Jensen is the hearts and lungs of the Nvidia story… the company and its leading edge GPU technology will go on and it does not change the entrenched position Nvidia has in the AI Revolution chip arms race," Ives wrote.
He maintained a price target for Nvidia stock at $300 should Huang stay in the CEO role. Should he be ousted by the board, Ives sees a $225 price target for shares.
In a note to investors, "Where did he find the time?" Bernstein analysts downgraded Nvidia to Market-Perform and lowered its price target from $400 to $200, following reports that Nvidia CEO Jensen Huang was involved in two extramarital affairs, one with an alleged Chinese spy and the other with an Nvidia executive and direct report.
"With the new allegations, it feels impossible to us for the board to keep him in the role (we have seen other CEOs in our coverage terminated for far less...). And if it turns out the board doesn't remove him now this would clearly bring further risk as more allegations seem likely to surface from here. So now what? On the positive, the fundamentals of the business (if not the leadership) are clearly still intact with numbers that remain massive (and probably still headed higher). We don't think the company should have huge issues operating while engaged in a search for new leadership. And (of course) the shares are almost absurdly cheap (and getting cheaper as we speak); clearly there is a lot of bad news getting priced in here. On the other hand, we find it hard to advocate stepping in here in size as there will no doubt be more allegations to come (there is a trope that says if you find two ants in your kitchen the best estimate of the total number of ants in your kitchen is not two...), both from internal issues as well as headlines related to the business, new governmental investigations etc. "
Dan Niles, founder of Niles Investment Management, suspects Nvidia CEO Jensen Huang could be out by tomorrow morning.
Nvidia remains a 'Strong Buy' for Raymond James analysts ahead of the company's quarterly results expected Nov. 17, despite fresh reports of a second affair involving CEO Jensen Huang, this time with an Nvidia vice president, according to an analyst note Wednesday.
"We doubt the distraction created by the CEO's indiscretions alters the fundamentals," wrote equity research analyst Simon Leopold.
"While Jensen Huang has been a stand-out CEO closely associated with the company, we argue that Nvidia is more than just its CEO. The AI evolution continues and Nvidia remains an important player," he added.
Meg Tirrell, medical correspondent at CNN, said that Nvidia exec Kimberly Powell will no longer be on her panel tomorrow at the Milken Future of Health Summit in Washington, DC.
According to The New York Times, Nvidia CEO Jensen Huang and Powell had an extramarital affair. Huang had earlier this week admitted to having an affair with a woman alleged to be a Chinese spy.
Deidre Bosa, host of Deidre Bosa Live, weighs in on who could succeed Nvidia CEO Jensen Huang if the company's board ousts him because of two reported extramarital affairs, one with an alleged Chinese spy and the other with an Nvidia exec and Huang direct report.
