Oncast Money · Market Open

Nvidia CEO Jensen Huang resigns, stock plunges

· Fact-checked before it aired. Unconfirmed claims from this segment are not shown.

Jensen Huang resigned as Nvidia's president, CEO, and board member effective immediately on Nov. 12, 2026. CFO Colette Kress was named interim CEO, and Harvey C. Jones became the board's first-ever chair. Nvidia shares fell about 10% to $156, returning to June 2025 levels.

Huang faced mounting pressure after reports of an extramarital affair with an alleged Chinese intelligence asset, Alice Huang, and a second affair with an Nvidia employee who reported to him. The board had opened an investigation on Nov. 8, and media reports on Nov. 11 revealed the second relationship. The alleged spy affair raised national security concerns, and the board decided on his departure.

Nvidia shares fell about 10% to $156 in pre-market trading after Jensen Huang resigned as CEO, effective immediately.

Nvidia appointed CFO Colette Kress as interim CEO after Jensen Huang resigned, ending his 33-year run at the company he co-founded.

Colette Kress, Nvidia's CFO, was named interim CEO to replace Jensen Huang.

Colette Kress has been Nvidia's CFO since September 2013 and was appointed interim CEO after Huang's immediate resignation.

Jensen Huang resigned as Nvidia's CEO, president, and board member effective immediately.

Jensen Huang resigned as Nvidia CEO.

Fact-check

VERIFIED TRUE

Nvidia appointed CFO Colette Kress as interim CEO after Jensen Huang resigned, ending his 33-year run at the company he co-founded.

BREAKING: Nvidia, $NVDA, has appointed Colette Kress, the company’s current CFO, as Interim CEO. Jensen Huang’s 33-year career at Nvidia has officially come to an end.

Original post · The Kobeissi Letter (@KobeissiLetter)

[investor.nvidia.com](https://investor.nvidia.com/news/press-release-details/2026/NVIDIA-Announces-CEO-Transition/) NAMES: NVDA = Nvidia's stock ticker; Colette

VERIFIED TRUE

Colette Kress has been Nvidia's CFO since September 2013 and was appointed interim CEO after Huang's immediate resignation.

WHO IS COLETTE KRESS, NVIDIA'S NEW INTERIM CEO? Colette Kress has been appointed interim CEO of Nvidia ($NVDA ) following Jensen Huang's immediate resignation. Kress has served as Nvidia's CFO since 2013, playing a central role in the company's transformation into an AI https://t

Original post · *Walter Bloomberg (@DeItaone)

[investor.nvidia.com](https://investor.nvidia.com/news/press-release-details/2026/NVIDIA-Announces-CEO-Transition/) NAMES: NVDA = Nvidia's stock ticker.

Sources

What the hosts said

AThis is Market Open. Nvidia just lost its founder, and the stock is down ten percent before the bell.
BJensen Huang is out. Not retiring. Out, effective immediately.
AThe board named CFO Colette Kress interim CEO.
BAnd the market's answer? Nvidia at 156 pre-market. That's a ten percent haircut.
ABack to levels we hadn't seen in a while. That's the headline.
BLet's be clear about why. This isn't a health scare or a quiet retirement.
AAP reports the board opened an investigation in early November. Media reports then claimed a second relationship with an Nvidia employee.
BAnd the first one, the alleged Chinese intelligence asset, that's the national security part. That's what the reports say pushed the board's hand.
ASo the founder of the most important company in AI is gone, and the stock is telling you exactly how much that matters.
BHere's my question. Is this a buying opportunity or the end of an era?
AI think it's neither. Kress has been running the financial side for over a decade. She knows where every dollar goes.
BKnowing where the dollars go is not the same as knowing where the chips go. Huang was the architect.
ABut the architecture is built. The roadmap is set. The question is whether the customers stay.
BThe customers stay if the product stays ahead. And the product stays ahead because Huang pushed it. That's the whole game!
ASo you think Nvidia without Jensen is just another chip company?
BI think Nvidia without Jensen is a company that has to prove it can still invent. And the market just told you it's not sure.
AThe new board chair, Harvey Jones, says they have full confidence in Kress and the leadership team.
BOf course he says that. What else is he going to say? 'We're panicking'?
AFair. But Kress said she's committed to building on the foundation Jensen created.
BThat's the right thing to say. Now she has to do it while the stock is down ten percent and every analyst is asking about succession.
AOne trader on X put it perfectly. 'An hour ago my timeline was saying he's fine. This app is too fast for my portfolio.'
BThat's the speed of this market now. Rumors at nine, resignations at nine-thirty.
AAnd the rumor mill is already spinning. Zero Hedge notes the odds of Jensen joining SpaceX are surging.
BOh, come on. The man just resigned. Can we give him a week before we put him in a spaceship?
AIt's the internet. He's already been hired, fired, and re-hired three times before lunch.
BLook, the serious point is this. Nvidia is the proxy for the entire AI trade. When it sneezes, crypto catches a cold.
ACoindesk's James Van Straten made that exact point. AI and crypto are joined at the hip now.
BSo if you're watching Bitcoin this morning, you're watching Nvidia. That's the new reality.
ASpeaking of crypto, there's another story brewing. Goldman Sachs, Citi, and other banks are reportedly committing a sizable sum to a joint stablecoin venture.
BProject Faro, according to Bloomberg. I haven't confirmed the number, but the direction is clear.
AThe big banks are not sitting this one out. They're building their own rails.
BAnd that's the real story. The banks spent years mocking crypto. Now they're writing checks.
ATwo hundred seventy million is a rounding error for these banks. But the signal is enormous.
BIt says stablecoins are not a fad. They're infrastructure.
AMeanwhile, the inflation watch is on. October core CPI estimates are clustering around 0.2 percent month over month.
BGoldman and Morgan Stanley are at 0.1. Everyone else is at 0.2. That's a tight range.
AWhich means the Fed's next move is still a coin flip. Nobody's getting clarity today.
BAnd that's the market we're in. Nvidia's imploding, banks are building stablecoins, and inflation won't give a straight answer.
AWelcome to Thursday. We'll be tracking all of it as the opening bell rings.

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