13 November 2026: Jensen Huang, the co-founder who led Nvidia for more than three decades and became one of the most recognisable figures of the artificial intelligence boom, has resigned as the company’s chief executive. Nvidia announced the change on Thursday in a filing with the US Securities and Exchange Commission, sending its shares sharply lower.
Key points:
- Huang resigned as President, CEO and a member of the board, effective immediately, according to Nvidia’s 8-K filing.
- Chief Financial Officer Colette Kress is interim CEO and will continue as CFO until a permanent successor is named.
- The board is searching for a permanent CEO and will consider internal and external candidates; Harvey C. Jones becomes board chair.
- Nvidia shares fell as much as 13% after the news, and the company’s market value dropped below $4 trillion for the first time since July 2025.
What Nvidia announced
In its SEC filing, Nvidia said Huang had stepped down from all of his roles at the company with immediate effect. The company did not give a reason for his departure. Colette Kress, who has served as CFO since 2013, will lead the company on an interim basis while also remaining finance chief, and the board has begun a search for a permanent CEO. Harvey C. Jones was named chair of the board.
Why it happened
Huang’s departure followed several weeks of media reports about his personal life, which outlets including CNN said had raised national security concerns and increasing scrutiny in Washington. CNBC reported that the board had held an emergency meeting before the announcement and described the move as an ouster, while Nvidia itself framed it as a resignation. Huang has not been charged with any wrongdoing.
How markets reacted
Nvidia’s shares fell as much as 13% after the announcement before recovering some losses, extending a difficult run for the stock. The shares had already dropped more than 9% in a single day last week during the AI sell-off that followed the midterm elections. See our coverage of the AI sell-off.
| Index | Close, 12 Nov 2026 |
| S&P 500 | 7,592.40 (−0.35%) |
| Dow Jones | 52,297.09 (−0.36%) |
| Nasdaq Composite | 25,366.09 (−0.39%) |
The wider market also slipped as Treasury yields climbed after last week’s hot inflation data raised the chance of a larger Fed rate hike in December. Read: Hot CPI sends yields soaring.
Why it matters beyond Nvidia
- AI bellwether: Nvidia’s chips power most AI data centres, so its leadership and outlook affect the whole AI and semiconductor sector.
- Index weight: Nvidia is one of the largest companies in the S&P 500 and Nasdaq, so big moves in its shares can move the indices.
- Key-person risk: the episode is a reminder that even the largest companies can face sudden leadership changes.
What to watch next
- Who the board chooses as permanent CEO, and how quickly.
- Any comments from Nvidia on strategy, customers and its product roadmap.
- Further scrutiny from US lawmakers and regulators.
- Nvidia’s next quarterly results, which investors will watch for any impact on demand.
Single-stock news can cause very large price swings. If you trade individual shares or stock CFDs, keep position sizes small and use a stop-loss.
Risk warning: The value of shares can go down as well as up, and you may get back less than you invest. Trading stock or index CFDs with leverage carries a high risk of rapid losses. This article is for information only and is not investment advice.
Sources
- Nvidia Form 8-K: CEO transition (SEC)
- Nvidia: Announces CEO transition
- CNBC: Nvidia CEO Jensen Huang resigns
- CNN: Huang resigns after scandal upends US tech giant
- Axios: Jensen Huang resigns as Nvidia CEO
- Portfolio Terminal: Stock market close, 12 Nov 2026
Raheel Abbas