This week, Nvidia's Jensen Huang resigned as president, CEO, and a board member, just four days after the board publicly expressed confidence in his leadership.
- Elon Musk said it would be an honor to have Huang at Tesla or SpaceX, but made no formal offer or specified a potential role.
- President Donald Trump praised Huang and suggested former Apple CEO Tim Cook could replace him.
- Trump also stated that the FBI was investigating Huang’s relationship involving the woman allegedly suspected of being a Chinese spy.
At the start of the week, Nvidia’s (NVDA) board publicly expressed “absolute confidence in Jensen and his leadership team.” Four days later, CEO Jensen Huang had resigned, effective immediately, leaving the company facing an unexpected leadership transition just days before its next earnings report.
Nvidia said Huang stepped down as president, CEO, and board member. Chief Financial Officer Colette Kress will serve as interim CEO while the board searches for a permanent replacement. The company is scheduled to report third-quarter results next Tuesday.
The abrupt departure prompted reactions from across the board, including Tesla (TSLA) and SpaceX (SPCX) CEO Elon Musk and President Donald Trump. Their comments ranged from Musk suggesting it would be an honor to bring Huang to his companies to Trump publicly floating former Apple CEO Tim Cook as a possible successor.
Nvidia’s Board: From ‘Confidence In Jensen’ To ‘Immeasurable Contributions’
“The Board has confidence in Jensen and his leadership team.”
– Nvidia Board Statement (November 8, 2026)
Nvidia’s board issued the above statement on Sunday while announcing an independent investigation into reports that Huang had been targeted by a foreign intelligence effort. It also said it had “no reason to believe” that national security or Nvidia’s confidential information had been compromised.
“Immeasurable contributions to the company and the industry.”
– Nvidia Board Statement (November 12, 2026)
Four days later, the board’s tone had shifted. Its announcement of Huang’s departure thanked him for his “immeasurable contributions to the company and the industry,” but offered no reason for his resignation and included no statement from Huang.
According to the company’s SEC filing, the board accepted Huang’s resignation on Nov. 11. Kress will retain her CFO responsibilities while serving as interim CEO. The board said it will consider both internal and external candidates in its search for a permanent chief executive.
This week, NVDA stock logged its longest weekly losing streak since 2012, with its market capitalization sinking by over $1.6 trillion. On Stocktwits, retail sentiment around Nvidia trended in the ‘extremely bullish’ territory over the past week, with chatter rising to ‘extremely high’ from ‘high’ levels. Platform data showed an uptick of nearly 400% in message volume over the last seven days.
Colette Kress, Harvey Jones: ‘The Extraordinary Foundation Jensen Created’
“The Board has full confidence in Colette and the leadership team.”
Harvey Jones, board chair, Nvidia
Kress struck a continuity-focused tone in her statement, emphasizing the foundation Huang had built during his 33 years at the company.
The board also expressed confidence in Kress and the existing leadership team, signaling that it does not expect the change at the top to disrupt the company's day-to-day operations or longer-term plans.
“Committed to building on the extraordinary foundation Jensen created over the last 33 years.”
– Colette Kress, interim CEO and CFO, Nvidia
The board also announced Harvey Jones, former CEO of Synopsys, as the first chair in Nvidia’s history. He has served on the board since 1993. Jones said the company expects its operations, customer commitments and product roadmap to continue without interruption.
Jensen Huang: An Apology And A Phone Call
“I owe my family and all of you an apology.”
– Jensen Huang, in a message to Nvidia employees (Nov. 8, 2026)
Huang’s message to employees on Sunday set the stage for the events that followed. In it, he acknowledged being unfaithful to his wife, without identifying the woman involved.
Reports linked the relationship to Alice Huang, a former executive at Nvidia customer Megaspeed. U.S. intelligence reportedly suspects her of working for China. Alice Huang is not related to Jensen Huang, and the reports did not allege that he knowingly assisted Chinese intelligence.
The New York Times later reported a second relationship involving an Nvidia employee who reported to Huang. By Thursday afternoon, Reuters reported that a third alleged relationship with another employee may also be under scrutiny.
Huang had not made a public statement after the board announced his resignation.
ElonMusk Thinks It Would ‘Be An Honor’ To Have Huang At SpaceX, Tesla
“That would be an honor.”
– Elon Musk, CEO, Tesla and SpaceX
Musk made the above comment in response to a post by ZeroHedge, which said, “Elon please hire Jensen.” He replied roughly two hours later, around the time Nvidia’s board was reportedly in a meeting deciding Huang’s fate.
Musk did not specify what role Huang might take at either company, and his response did not amount to a formal job offer.
SpaceX has committed to a $40-billion lease of Nvidia equipment, adding another dimension to the relationship between the companies.
On Stocktwits, retail sentiment around TSLA stock flipped to ‘bullish’ from ‘extremely bearish’ over the past week, while sentiment around SPCX stock dipped to ‘neutral’ from the ‘bullish’ zone.
Donald Trump Wants Tim Cook To Take Over For Huang
“I really believe him.”
– President Donald Trump, on his Monday call with Huang
Trump said he had spoken with Huang on the phone and that the Nvidia CEO told him he had no idea the woman in question was a spy.
Following Huang’s resignation, Trump took to Truth Social and suggested that former Apple CEO Tim Cook should replace him.
“A Legend replaces a Legend!”
– President Donald Trump, on Truth Social
Trump wrote that “there is only one man to take his place,” naming Cook, who stepped down as Apple’s CEO in September and now serves as executive chairman.
“It would be a betrayal of Apple or seen as such,” said CNBC’s John Fortt, citing why Cook stepping in for Huang may not work. “I've talked to Jensen about Apple a few times over the years, and I always got kind of a chilly reception to any comparison between Nvidia and Apple,” he added, stating that Apple and Nvidia's cultures are “not compatible.”
“That’s so sad to see that happen.”
– President Donald Trump
Trump also described the situation as a “horrible thing,” CBS reported. Earlier in the week, he said the FBI was investigating the relationship between Huang and the woman allegedly suspected of being a Chinese spy.
While Musk and Trump weighed in publicly on Huang’s departure, other major technology leaders have so far remained silent. Amazon (AMZN) CEO Andy Jassy and the heads of the other Magnificent Seven companies had not publicly commented on the Nvidia leadership shake-up at the time of writing.
Read also: Tom Lee Says Jensen Huang Exit Doesn’t Change His Bullish Tech Outlook: AVGO, AMD Stocks Lead Chip Rally
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