Nvidia’s Jensen Huang Agrees to Testify in Congress After Exit
Jensen Huang has agreed to testify before Congress after resigning as Nvidia chief executive on November 12, 2026. Shares fell as much as 13% at the open. CFO Colette Kress takes over on an interim basis while the board searches for a permanent successor.
Nvidia co-founder Jensen Huang has agreed to testify before Congress after resigning as the chipmaker's chief executive on Thursday, November 12, 2026, following reports of extramarital affairs, according to news coverage of the departure. Details of when and where he will appear have not been released.
Nvidia's board announced the resignation. Huang also left his posts as president and as a board member, "effective immediately."
Shares plunge on the news
Nvidia stock fell 13% when Wall Street opened. After a partial rebound, it was down 7% in morning trading.
That wiped more than $320bn off the company's value on the day and more than $600bn for the week. Nvidia is now valued at about $3.9tn.
Chief financial officer Colette Kress will serve as interim chief executive until a full-time successor is named. The board said it would consider internal and external candidates. It also appointed Harvey Jones, a tech investor and entrepreneur, as the company's first chair.
What led to the resignation
Huang admitted on Sunday that he had been unfaithful to his wife, Lori. He did not refer directly to Alice Huang, an Nvidia customer and Chinese citizen who is no relation to him and is alleged to be a Chinese spy. Nvidia had earlier denied anything unusual about that relationship.
The board hired the law firm Wachtell, Lipton, Rosen & Katz this week to run a "thorough and independent" investigation. The firm had told Huang to keep running Nvidia while it worked.
Late on Wednesday, a new report said Huang had a separate affair with Kimberly Powell, Nvidia's vice-president of healthcare. She was reportedly captured on video being affectionate with him at a hotel during a company conference in March. Powell has been approached for comment.
The board met late that day to discuss his future.
Statement leaves out the scandal
The board's statement did not mention the spying allegations or the personal conduct reports. It called Huang's contributions "profound" and said Nvidia was "one of the most consequential technology companies in the world."
Dan Ives, a senior US tech analyst, said the board had done what "it needed to do, which is rip off the Band-Aid and take Nvidia into its next chapter without him."
Trump backs Tim Cook
US President Donald Trump had defended Huang at first. On Thursday he moved on to a successor, posting that "there is only one man to take his place – TIM COOK of Apple." He added: "A Legend replaces a Legend!"
Cook stepped down as Apple's chief executive in September but remains a senior executive there. Others mentioned as possible candidates include Rene Haas, chief executive of UK-based chipmaker Arm Holdings, and Lisa Su, chief executive of AMD.
Inside Nvidia, Kress and Ian Buck, who manages the company's AI hardware and software products, are possible successors. Huang ran the company tightly, with about 60 direct reports.
His two children, Madison and Spencer, also work at Nvidia. They are in their mid-30s and relatively inexperienced.
