NVIDIA CFO Colette Kress Steps in for Jensen Huang as CEO

NVIDIA's third-quarter results are expected to be released on 17 November; no doubt the finance department is in a hurry to make sure every t is crossed with adjusted predictions.

The news of Colette Kress’s appointment comes as Founder and ex-CEO Jensen Huang has stepped down with immediate effect, following headlines about extramarital affairs. 

Jensen Huang was revealed to be having a “close” relationship with Alice Huang, of no relation, according to the New York Times. 

NVIDIA announced the same day that it will be conducting an independent investigation into the affair. 

A couple of days later the company said it was enlisting the help of ex-US State Attorney Joon H. Kim of Wachtell, Lipton, Rosen & Katz to ensure that national security had not been compromised.

Security concerns were raised as US officials alleged that Alice Huang is a spy working on behalf of China. 

It was then revealed, again by the New York Times, that Jensen was involved in a second extramarital affair, with direct report Kimberly Powell, NVIDIA VP of Healthcare. 

Finances and stocks 

NVIDIA holds its ground as the second largest company in the world by market cap.

Coming in with revenue of US$96.2bn at the end of the second quarter in late July, the company had financial predictions of US$108.bn for the end of the third quarter. 

Since news surrounding Jensen, who has held the position of CEO since he founded the company in 1993, has shaken up the markets, stocks in NVIDIA have been affected. 

The company was previously valued at US$4.7tn, and is now valued just below US$4tn.

Leadership changes and suggestions 

Jensen Huang has resigned with immediate effect. NVIDIA has promoted Colette to the top spot as Interim CEO, although she will remain CFO. 

NVIDIA has also appointed its first Chair of the Board, Harvey C. Jones, who has served on the Board since 1993.

Brian Colello, Senior Equity Analyst at Morningstar, states that prediction markets are looking at CEO of Arm, Rene Haas, as a potential replacement for Jensen Huang if Colette does not secure the position permanently. Previously an ex-NVIDIA VP, Rene could “guide the NVIDIA ship”, says Brian. 

“Colette Kress is a reasonable interim CEO candidate who could provide continuity during a leadership transition,” he adds. 

Donald Trump has also weighed in, suggesting on X that current Apple CEO Tim Cook could replace Jensen.

Upon her appointment, Colette Kress, Interim CEO and CFO of NVIDIA, says: “NVIDIA’s strength has always come from its people, and together with our leadership team, I am committed to building on the extraordinary foundation Jensen created over the last 33 years. 

“We will continue advancing the work that has made NVIDIA a leader in accelerated computing and AI, and execute on the opportunities ahead. Our focus remains on serving our customers, partners, developers and shareholders.”

Top partners

OpenAI: OpenAI's existing and planned commitments total about 12 gigawatts of NVIDIA compute, Colette said in August 2026, and it will use an initial 4.25 gigawatt AI factory deployment. NVIDIA also took part in OpenAI's US$110bn funding round in February 2026.

SK hynix: Agreed a multiyear memory technology partnership with NVIDIA, announced with its fiscal Q2 2027 results, as memory supply becomes the tightest constraint on the AI build.

BlackRock: One of the long-term capital providers working with NVIDIA on compute financing platforms targeting more than US$500bn of third-party capital, subject to definitive agreements.

Apollo Global Management: Part of the same financing group. Apollo president Jim Zelter has described modern compute as a scarce, mission-critical asset class.

Goldman Sachs: Joined NVIDIA's August 2026 compute financing initiative alongside Apollo, BlackRock, Blackstone, Brookfield and KKR.