Jensen Huang has resigned as Nvidia CEO, effective immediately. The board has an interim chief and no successor.

Jensen Huang resigned on Thursday as Nvidia's president, chief executive and a member of its board, effective immediately, ending 33 years at the head of the company he co-founded. Nvidia gave no reason, and Huang is not quoted in the announcement. Shares fell about 10%, to around $156, in pre-market trading, their lowest since June 2025.

Chief financial officer Colette Kress will serve as interim CEO while remaining CFO. The board accepted Huang's resignation on Wednesday, according to a filing with the US Securities and Exchange Commission, and named director Harvey Jones its first-ever chair. It is searching for a permanent CEO, internal or external, and gave no timeline. "The Board has full confidence in Colette and the leadership team," Jones said. Results on 17 November are still scheduled.

The announcement does not mention what came before it. The board opened an investigation on Sunday after reports that Huang had been the target of a foreign intelligence effort, and said it had no reason to believe national security or company secrets were compromised. Huang admitted an affair with a Chinese executive whom US officials suspect of working for Chinese intelligence, which Beijing denies. On Wednesday the New York Times reported a second relationship, with a Nvidia executive, and the Wall Street Journal reported that the board was preparing to remove him. On Tuesday the independent directors hired a former acting US attorney to run the investigation. The announcement does not say whether it continues.

What markets now expect

Traders had put Huang's exit by the end of the year above three chances in four before the announcement, and those markets have now resolved. The question they are pricing now is what is left. They put the chance that Nvidia ends the year as the world's largest company at 8.5%, down 17.5 points in a day, with Apple at 90.5%. They give Nvidia 36% to finish second.