Jensen Huang resigns as Nvidia CEO; Trump backs Tim Cook

Jensen Huang has stepped down as Nvidia’s president, chief executive and a director, ending his run at the top of the chipmaker he co-founded. The board accepted his resignation with immediate effect on November 11, according to a filing with the U.S. Securities and Exchange Commission. Nvidia announced the change publicly the next day. NVIDIA’s Form 8-K

Chief financial officer Colette Kress has taken over as interim CEO. In its announcement, Nvidia said the board would consider candidates from inside and outside the company for the permanent job. It did not name a permanent successor. NVIDIA’s transition announcement

Kress has been Nvidia’s finance chief since joining in 2013. Her career before Nvidia included senior finance roles at Cisco and Microsoft. She remains executive vice president and CFO during the transition. Colette Kress’s biography NVIDIA’s Form 8-K

The board appointed longtime director Harvey C. Jones as its first chair. Jones said the board expected Nvidia to keep its commitments to customers and continue with planned products and normal operations. That was the board’s expectation at the time of the announcement. NVIDIA’s transition announcement

U.S. President Donald Trump said on Truth Social on Thursday that he wanted Tim Cook to succeed Huang, praising both executives. CNBC and AFP, reporting in Arab News, both covered the post. The decision belongs to Nvidia’s board. Trump’s recommendation of Cook CNBC’s live coverage

Cook is Apple’s executive chair and its former chief executive. John Ternus now holds Apple’s CEO job. Nvidia’s announcement did not identify Cook as a candidate or say the company had approached him. Tim Cook’s current role NVIDIA’s transition announcement

The leadership change followed reports of a possible foreign intelligence effort targeting Huang. In a November 8 message released by Nvidia, he acknowledged being unfaithful to his wife and pledged to cooperate with an independent review. The acknowledgement did not establish the intelligence allegations. Huang’s message to employees

On November 10, Nvidia’s independent directors said they had hired former federal prosecutor Joon H. Kim and Wachtell, Lipton, Rosen & Katz to conduct the investigation. Nvidia did not announce findings or specify a reason for Huang’s departure in its transition statement. Independent directors retain counsel NVIDIA’s transition announcement

Chinese Foreign Ministry spokesperson Guo Jiakun rejected the spying allegation at a November 9 briefing. His comments set out Beijing’s position. Guo Jiakun’s November 9 briefing

Nvidia shares fell sharply after the announcement, then recovered part of the loss. The Associated Press reported an early drop of about 14% and a closing decline of around 4% on November 12. The two figures refer to different points in the same U.S. trading session. U.S. market session recap Nvidia’s closing move

The stock moved as investors weighed both the change at Nvidia and the broader outlook for AI spending. The session figures show how the shares traded; they do not isolate the impact of any one development.

Nvidia kept its fiscal third-quarter results on the calendar for Tuesday, November 17. Results are due around 1:20 p.m. Pacific time, with the call at 2 p.m. In Pakistan, that is approximately 2:20 a.m. and 3:00 a.m. on Wednesday, November 18. Quarterly results and webcast schedule NVIDIA’s transition announcement

The results will give investors a fresh look at demand and guidance under the interim leadership. The board has not published a deadline for choosing a permanent CEO. NVIDIA’s transition announcement