The chip designer said Huang will step aside as chief executive, a post he has held since cofounding Nvidia 33 years ago and guiding it to a roughly $4 trillion valuation on the back of artificial intelligence. Colette Kress, the company's longtime CFO, will serve as interim CEO while Nvidia prepares to start a formal hunt for a permanent successor, considering internal and external contenders.
Board chair Harvey Jones said, "The Board has full confidence in Colette and the leadership team, and we expect the company's operations, customer commitments and product roadmap to continue without interruption." The announcement included remarks from Kress; it did not feature any quote from Huang.
Huang's star rose with Nvidia's central role in AI, but his profile slid quickly after reports of romantic ties to a woman the U.S. intelligence community believes is a Chinese spy. On Sunday he apologized for being "unfaithful to my wife," but offered no specifics about his ties to businesswoman Alice Huang; her background includes employment at a Chinese firm and at Megaspeed, an Nvidia customer.
Late Wednesday, The New York Times reported a separate affair with Kimberly Powell, the company's vice president of health care. That afternoon, multiple outlets, including The Times, reported that Nvidia's board convened to weigh the company's future.
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The fallout also spotlights Huang's ties to President Donald Trump, who developed an unusually close rapport with the Nvidia leader. Huang emerged as a key voice in U.S. AI policy while pressing for priorities aligned with Nvidia's interests, including preserving access to open source AI and pushing for permission to export chips to China.
In plain English: Nvidia says operations, customer commitments and its product pipeline should carry on under Kress, which is the near term read for your portfolio. The company plans to launch a formal search for a permanent CEO, and the wider political and policy dynamics around AI and China continue to frame the stock's outlook.
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