Nvidia live updates: Following Jensen Huang's resignation as CEO, allegations of a third affair emerge Yahoo Finance Updated Thu, November 12, 2026 at 3:39 PM EST 1 min read NVDA -5.28% 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 Thursday 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.
Nvidia stock dropped as much as 13% on the news before paring losses.
The leadership shakeup followed a series of allegations of Huang's extramarital affairs with a customer and two employees.
On Nov. 8, Huang admitted to an affair believed to be with Alice Huang, a woman alleged to be a Chinese spy. The revelation embroiled the company in scandal this week, which only intensified after a report from The New York Times on Wednesday alleged that he also had a relationship with Nvidia executive Kimberly Powell. The company's board met on Wednesday night and decided to oust Huang.
On Thursday, Reuters reported that Huang had a third affair with a second Nvidia employee, who remained unnamed, as the fallout from the scandal spread.
Follow along for live updates and reactions.
Alleged spy and Jensen Huang paramour has ties to Chinese firm and major Nvidia competitor Huawei, CNBC reports:
"Alleged Chinese spy Alice Huang may have simultaneously owned stakes in businesses in China that benefited Nvidia's biggest competitor in China, Huawei, while she was in business with Nvidia and also reportedly having a romantic affair with its ousted CEO Jensen Huang.
The connection between Alice Huang and Huawei was first discovered by analysts at private intelligence firm Tesari. The firm exclusively shared its findings with CNBC. Tesari provides intelligence research to private companies and the U.S. government.
This previously unreported entanglement was first uncovered by the research firm which uses artificial intelligence to collect evidence and specializes in national security investigations around the world."
Despite Nvidia's CEO scandal, the AI chip giant has confirmed it will report its quarterly results next Tuesday, Nov. 17, after the close of trading.
CFO Colette Kress, who will be filling in as interim CEO, is expected to speak on the call. Wall Street will be paying close attention to comments regarding China, on which major scrutiny lies following revelations of Jensen Huang's affair with a woman believed by the US intelligence service to be a Chinese spy.
Earlier this week, The Information reported that the relationship between MegaSpeed executive Alice Huang and Jensen Huang may have facilitated at least $7.5 billion in Nvidia AI chip shipments to China since 2023. On Thursday, Semafor reported that multiple DOJ investigations, including one into MegaSpeed and another into Super Micro, could place further scrutiny on Nvidia.
The AI chip giant has said its access to China's lucrative AI chip market has been severely restricted by US export controls. During its last earnings call, then Kress said shipments of H200 chips to Chinese customers accounted for less than 1% of data center revenue in the second quarter, while the company excluded China data center compute sales from its third-quarter outlook.
With Jensen Huang out as CEO at Nvidia (NVDA) and CFO Colette Kress taking on the role of interim CEO, Wall Street, the company's partners, and its customers are waiting to find out who the next permanent CEO will be.
There are a number of candidates inside and outside of the company who could fill the position. But prediction markets Kalshi and Polymarket have zeroed in on Nvidia VP of hyperscale and high-performance computing Ian Buck as the company's next leader.
Both sites rank the odds of Buck taking over at roughly 40%.
Buck has worked at Nvidia for the last 22 years, rising from a systems engineer to his current role as the head of the company's biggest businesses.
The executive also has the kind of engineering chops that Nvidia's board may find compelling for the CEO role. Read more.
Nvidia (NVDA) stock went into free fall Thursday as CEO Jensen Huang stepped down, and retail investors were there to catch it. The question now is whether they bought the bottom or just the first leg down.
Huang resigned as Nvidia's CEO after reports of two affairs, and CFO Colette Kress is stepping in as interim CEO. The stock fell as much as 14% at the open to its lowest level since June 2025, then clawed back more than half of that drop. Nvidia reports earnings Tuesday with no permanent CEO in sight.
Small investors bought a net $111 million of Nvidia stock in the first 30 minutes of trading. According to Vanda Research, that was the stock's biggest opening on record and more than 40 times a normal start. Nvidia has soaked up 61% of all retail buying in US stocks and ETFs this week. Money also poured into leveraged funds betting on Nvidia gains, while funds betting against it drew nothing.
"This is very much a one-way flow story for retail," Vanda wrote.
Mike Zaccardi, a CFA and CMT, called it "one of the more epic 'buy the news' events in history" on X. Read more.
Passersby place flowers and candles outside of Nvidia's headquarters in Santa Clara, Calif., following the ouster of CEO and co-founder Jensen Huang.
Reuters is reporting that Jensen Huang had a third affair with a second Nvidia (NVDA) employee, according to two sources.
The report did not name the woman or her role at the company, and Reuters said it was unable to reach her for comment. Nvidia also declined to comment.
This latest revelation follows allegations that Huang had an affair with Alice Huang, a Megaspeed executive who is believed to be a Chinese intelligence asset, and Kimberly Powell, an Nvidia executive who reported directly to Huang.
The Trump administration is reportedly considering firing Commerce Secretary Howard Lutnick amid reports that Lutnick received a classified memo warning him about Nvidia CEO Jensen Huang's relationship with alleged Chinese spy Alice Huang.
Scrutiny of AI chip giant Nvidia could widen amid multiple US Justice Department investigations that could ensnare the company, according to a report from Semafor.
One of the probes is focused directly on Nvidia and examines potential antitrust violations, according to two administration officials cited by Semafor. Two other investigations involve Singapore-based tech company Megaspeed and AI server maker Super Micro Computer (SMCI).
The latest scrutiny comes after Nvidia CEO Jensen Huang resigned on Thursday following reports of two affairs. One of them was with Alice Huang, an alleged Chinese spy and former executive at Megaspeed, a Singapore-based AI infrastructure procurement company. Renewed scrutiny of the company has followed revelations about the relationship.
Separately, Super Micro has also faced scrutiny over the alleged diversion of AI servers containing Nvidia chips to China.
Last month, Reuters reported that a contractor linked to the company pleaded guilty to charges related to the illegal export of servers containing advanced Nvidia chips to China. Super Micro itself was not charged in that case. On Thursday, shares of the server maker packed with Nvidia chips plunged 12%.
Nvidia has only a few months to scout out a new CEO, if you ask Unconventional AI founder and CEO Naveen Rao.
"I actually think it's pretty urgent, and I would say it needs to be closed probably in the next three or four months," Rao said about Nvidia's CEO search after Jensen Huang stepped down. CFO Colette Kress is serving as the company's head on an interim basis until a permanent successor to Huang is determined.
Rao explained that the urgency is due to Nvidia's norms around its hardware roadmap, which has allowed the company to gain a competitive advantage.
"Nvidia is famous for making quick changes to the roadmap," Rao said. "The V3 V100, where they got the Tensor cores, that was a very famous quick change. So I think someone has to be able to make those calls in real time, and this is not something you can you can leave out for six plus months. This needs to be closed pretty soon."
He also pointed out that Huang helped attract Nvidia's strong talent base, and any delay in picking a new leader could erode employees' confidence in the company.
Wall Street analysts reacted with temporary relief on Thursday as Nvidia (NVDA) announced that CFO Colette Kress would serve as interim CEO after Jensen Huang resigned following reports of affairs with a suspected Chinese spy and an Nvidia executive.
Kress, who has served as Nvidia CFO, is seen as a steady hand amid the turmoil at the company.
Wall Street watchers say that, in the near future, Nvidia will be the revenue monster it's been since the start of the AI race, thanks to its existing product roadmap.
KeyBanc Capital Markets analyst John Vinh wrote in a note to investors that Kress's appointment as interim CEO is constructive "given her tenure as CFO since 2013 and deep institutional knowledge of Nvidia's business and strategy."
But Huang, who led the company as a singular figure with dozens of direct reports, leaves a void that clouds Nvidia's long-term outlook.
As a result, several analysts lowered their price targets and ratings on the company's stock.
Bernstein analyst Stacy Rasgon, who reduced his price target from $400 to $200 and lowered his rating from Outperform to Market-Perform, wrote in an investor note that Kress's appointment is a positive for the company.
"We aren't really worried about near-term impacts to the business as a result of the events of the past week, and of course the shares screen extremely cheap," he said.
But Rasgon raised concerns about a new CEO's ability to maneuver Nvidia's product pipeline, customer relationships, and more.
"We see considerable uncertainty around further newsflow that is probably going to be coming down the pipe, as well as the ability of any new CEO to truly fill Jensen's shoes given how tightly he managed the direction of the business and its relationships with customers, suppliers, employees, and the broader industry ecosystem," he wrote. Read more.
Major US stock indexes moved higher Thursday, paring earlier losses sparked in part by the sudden departure of Nvidia co-founder and longtime CEO Jensen Huang.
As investors grapple with what Huang's exit could mean for the artificial intelligence trade, one Wall Street veteran offered some historical perspective.
"Sad about Jensen. Shakespearean. But as [Charles] de Gaulle said, 'The graveyards are filled with indispensable men'," former Goldman Sachs CEO Lloyd Blankfein posted on X Thursday.
Huang's departure has raised questions extending well beyond the chipmaker, including what Nvidia's turmoil could mean for the many AI firms it has backed.
Jensen Huang's ouster from the top of Nvidia (NVDA), the world's leading chipmaker, could portend a broader shift in Washington over China's access to Silicon Valley's most advanced chips.
Though concerns around China's ambitions to catch up to US progress on AI have long existed on the Hill, those worries were blown into much wider focus last week after the New York Times reported that Huang had an affair with a Chinese national named Alice Huang, who the US intelligence service reportedly believes has committed espionage on behalf of Beijing.
Huang will soon face questions in Washington about his company's approach to AI. Representative Brian Mast (R-Fla.) told reporters in a briefing on Thursday that the former Nvidia CEO has agreed to appear before Congress after Mast and fellow Representatives John Moolenaar (R-Mich.) and Rick Crawford (R-Ark.) sent a letter to Huang last week requesting his presence at a closed-door hearing on the Hill. Read more.
Nvidia (NVDA) planned to host its GTC developer conference in Washington, D.C., from Dec. 1 through Dec. 3, with former CEO Jensen Huang hosting a keynote on Dec. 1.
The event is still listed on Nvidia's website, complete with a link announcing Huang's keynote at 2 p.m. ET.
With Huang now out at the company, it's unclear whether the event will move forward and, if it does, who would host the keynote.
Huang was known for his stylish keynotes complete with massive stage props illustrating Nvidia's various hardware and software offerings.
The events evolved to take on an almost festival-like atmosphere as Nvidia's profile rose, with the company taking over a park near its marquee conference in San Jose, Calif., for a faux night market.
House Foreign Affairs Chairman Brian Mast told reporters that ousted Nvidia CEO Jensen Huang has agreed to testify before Congress ahead of the Thanksgiving holiday.
Mast said Huang responded last night after being threatened with a subpoena. "Jensen and I have been very at odds as some of you already know on export controls, but Nvidia is a very important company to the United States of America," Mast said, according to Bloomberg. Mast said the testimony will likely be under oath, transcribed, and on video.
Financial and tech industry voices are trying to read the tea leaves in the wake of Nvidia (NVDA) CEO Jensen Huang's resignation on Thursday.
"I think the market can survive without positive results from Nvidia in the short term," said Liz Thomas, SoFi's chief market strategist during Yahoo Finance Invest. "It does bring into question what we've been talking about for the last, better part of the last year, which is a lot of these circular relationships."
Nvidia stock fell more than 13% in early trading Thursday before paring some of those losses following the news that Jensen Huang had resigned as CEO and CFO Colette Kress was named interim CEO. Read more.
President Trump offered his first reaction Thursday to the resignation of Nvidia CEO Jensen Huang by saying that former Apple CEO Tim Cook should take over, calling him "the only one man to take his place."
"A Legend replaces a Legend!," the president added on Truth Social, which also praised the ousted Huang as having "done a fantastic job."
The post did little to answer questions about whether Huang's affair with a suspected Chinese spy endangered US national security and came as Trump also appeared to stand by Commerce Secretary Howard Lutnick, who has found himself under fire as part of the growing scandal.
White House officials told various outlets on Thursday morning that Trump maintains complete confidence in Lutnick.
Jensen Huang didn't just sell the AI boom its chips. He bankrolled a good chunk of it too. Now that he's out as Nvidia's (NVDA) CEO, Wall Street is going through the tab line by line.
Nvidia owns pieces of Intel (INTC), SpaceX (SPCX), and CoreWeave (CRWV). It's pledged up to $10 billion to Anthropic and has a preliminary deal to put as much as $100 billion into OpenAI. Add it all up, and its latest filing lists about $530 billion in commitments and guarantees, by Yahoo Finance's count.
Neoclouds like CoreWeave and Nebius (NBIS), which rent out Nvidia chips and lean on Nvidia's backing, are getting hit hardest. Rivals Broadcom (AVGO) and AMD (AMD) are catching a bid, and most of Big Tech is shrugging it off.
Interim CEO Colette Kress — the CFO who signed off on many of these deals — now decides how many more checks to write. Watch whether she stands behind them when Nvidia reports Tuesday.
In a note to clients, Bernstein analysts reacted to the departure of longtime Nvidia CEO Jensen Huang and the appointment of CFO Colette Kress as interim CEO.
"So what now? On the positive Colette should be able to keep things running for now and we aren't really worried about near-term impacts to the business as a result of the events of the past week, and of course the shares screen extremely cheap. That being said, we see considerable uncertainty around further newsflow that is probably going to be coming down the pipe, as well as the ability of any new CEO to truly fill Jensen's shoes given how tightly he managed the direction of the business and its relationships with customers, suppliers, employees, and the broader industry ecosystem.
The uncertainty proved too much for us; we moved to the sidelines on the stock last night as a result (more of our broader thoughts can be found in that note). Nothing would give us more pleasure than being able to revisit the story at some point, but we are having a hard time advocating stepping in here. We rate NVDA Market Perform with a $200 PT."
Nvidia (NVDA) CFO Colette Kress has been named interim CEO after Jensen Huang stepped down amid allegations of an affair with a Chinese spy and a company executive.
Kress, one of Nvidia's more prominent executives, joined the company in 2013 and helped guide the company's financial success from a video game company to the AI juggernaut it is today.
In a statement, Kress said she is committed to building on the work Jensen has done to turn Nvidia into the company it has become.
"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," she said.
Kress regularly provides financial updates during Nvidia's quarterly earnings call, making her well known among analysts and investors.
Prior to joining the company, she served as the senior vice president and CFO for Cisco's (CSCO) Business Technology and Operations Finance group, according to her Nvidia biography.
Before joining Cisco, she held positions at Microsoft (MSFT) for 13 years, including as CFO of the company's server and tools group. She also worked at Texas Instruments (TXN) in several roles. Read more.
Interim Nvidia CEO Colette Kress told Nvidia staffers that she believes "deeply in the company" and that "NVIDIANs" are the company's "greatest strength"
