Nvidia CEO Jensen Huang Resigns: What Happened and What Comes Next
In the middle of the biggest AI stock sell-off in years, the world's most important AI company lost its leader. On 11 November 2026, Nvidia's board accepted the resignation of Jensen Huang — the man who co-founded the company in 1993 and led it for 33 years. He stepped down as President, CEO and board member, effective immediately. Here is what we know, what we don't know, and what it means for beginners following the AI story.
Who is Jensen Huang?
Jensen Huang co-founded Nvidia in 1993 and built it from a small graphics-chip company into the most valuable chip company in the world. Under his leadership, Nvidia's chips became the standard hardware for training and running AI — the reason Nvidia's data-centre revenue reached $89 billion in a single quarter in 2026, up 117% from a year earlier. He was one of the most famous CEOs in technology, known for his black leather jacket and his long-term bets on AI. He owns about 3.6% of Nvidia's stock, and he will not remain on the board.
What exactly happened?
According to Nvidia's official filing with the US Securities and Exchange Commission (Form 8-K, filed 12 November 2026), the board accepted Huang's resignation on 11 November 2026, effective immediately. The announcement gave no reason for the resignation.
Three days earlier, on 8 November, the board had opened an independent investigation into reports that Huang had been targeted by a foreign intelligence effort. The board said at the time that it had "no reason to believe" national security or Nvidia's secrets were compromised. No findings from that investigation have been made public.
What has been reported — and what has not been proven
It is important to separate what is confirmed from what is only reported. Reports from Reuters, the New York Times and the Wall Street Journal say the board met on 11 November to decide Huang's future, and report two extramarital relationships, one with a woman US authorities reportedly concluded was a Chinese intelligence asset. These are reported allegations, not findings — no investigation has publicly confirmed them, and they should not be treated as proven fact. Beyond that, we are not repeating further personal details, because they are unverified.
What is confirmed is only this: the board accepted the resignation, gave no reason, and an investigation had been opened days earlier with no public findings.
Who is running Nvidia now?
The board appointed Colette Kress as interim CEO while it searches for a permanent successor, considering both internal and external candidates. Kress is 59 and has been Nvidia's Chief Financial Officer since 2013 — she knows the company's finances and business deeply, and she keeps her CFO job while serving as interim CEO. The board also appointed Harvey C. Jones, 73, as its first-ever Chair. So Nvidia is being run by its long-serving finance chief, with an experienced board member overseeing the board, while the search for a permanent CEO goes on.
How did the market react?
Badly, at first. Nvidia shares fell as much as 14.3% on 12 November, before recovering some ground during the day; shares were down 5.4% at one point that day. That fall came on top of the wider AI sell-off already under way — Nvidia had already fallen to $173.73 on 12 November and $162.85 on 13 November in the days before the resignation news fully hit. A sudden CEO change at the biggest AI company, in the middle of a market panic, is exactly the kind of news that makes investors sell first and ask questions later.
What comes next?
The next big date is 17 November 2026, when Nvidia reports its third-quarter results — the first earnings under interim CEO Kress. Investors will be watching two things: the numbers themselves, and what Kress says about the company's direction. A strong report could calm the market; a weak one, or uncertainty about leadership, could keep the pressure on.
The longer question is who becomes the permanent CEO. Nvidia is a huge, complex company, and its new leader will have to manage the AI chip race against AMD and Intel, the data-centre spending question, and the US Department of Justice inquiries into Nvidia's $12.93 billion acquisition of Hugging Face. The board's choice will shape the company for years.
What should beginners take from this?
Three lessons. First, even the biggest company can change overnight — leadership matters, and a CEO change is one of the biggest events that can happen to a company. Second, don't confuse rumours with facts: in a fast-moving story, reports and allegations spread quickly, but only official filings and confirmed statements are facts. Third, one person's departure does not erase a company's business — Nvidia still makes the chips that power most of the world's AI, and its next earnings will tell us far more about its future than any single day's share price.
Final words
Jensen Huang led Nvidia for 33 years and turned it into the centre of the AI world. His sudden resignation, with no reason given, is one of the biggest corporate stories of 2026 — and it arrived in the worst possible week for AI stocks. What happens next depends on the new leadership and on the earnings of 17 November. For beginners, the lesson is the same as ever: follow the facts, not the noise, and wait for the evidence.
Sources: Nvidia SEC Form 8-K, Reuters, November 2026.