Who is Nvidia interim CEO Colette Kress?

Akash Sriram

Nvidia's Chief Financial Officer Colette Kress

Kress poses for a photo in an unknown location. Nvidia/Handout via REUTERS

As we’ve just reported, Nvidia has chosen Kress as interim CEO while it searches for a permanent successor to Huang.

Kress joined Nvidia in September 2013 as executive vice president and chief financial officer, and has remained CFO throughout the company’s rise to the centre of the artificial-intelligence boom.

Before joining Nvidia, Kress spent eight years in finance roles at Texas Instruments and more than a decade at Microsoft, where she became CFO of its Server and Tools division in 2006.

She later moved to Cisco in 2010, overseeing financial strategy and business development for its Business Technology and Operations Finance organisation.

Forbes ranks Kress No. 32 on its 2026 list of America's richest self-made women. Her shares in the chip firm were valued at roughly $750 million, as of Wednesday's close, down from more than $1 ​billion at the stock's peak last month.

Jensen Huang resigns as Nvidia CEO after affairs scandal

• Huang, 63, had been under pressure over reports of two extramarital affairs, one involving Alice Huang, a woman alleged to be a Chinese spy

By Farouq Suleiman, Marta Serafinko, Estelle Shirbon and Kylie MacLellan

What you need to know

• Nvidia says Jensen Huang has resigned as president and CEO effective immediately
• Chief Financial Officer Colette Kress has been appointed interim CEO, while former Synopsys CEO Harvey Jones was named Nvidia's first-ever board chairman
• Huang, 63, had been under pressure over reports of two extramarital affairs, one involving Alice Huang, a woman alleged to be a Chinese spy
• The announcement came after Nvidia's board met on Wednesday to discuss his future
• Nvidia shares fell 13% at the US market open, taking the company's market value below $4 trillion for the first time since July 2025
• Huang's exit plunges the company into uncertainty and threatens to disrupt an AI ecosystem that he helped bankroll
• US President Donald Trump has called the Nvidia chief 'an honorable guy', while congressional leaders called for investigations into national security risks

Warren says Congress must restrict US chip sales to China

Democratic Senator Elizabeth Warren has said Nvidia still owes Congress answers about what has happened.

Warren's views are important because she is likely to be the next chair of the Banking Committee, which has a key oversight role on export controls.

In a written statement, she said it was urgent Congress pass new rules restricting US chip sales to China.

"Nvidia CEO Jensen Huang’s decision to resign does not absolve him, other executives, or the company as a whole of responsibility for putting our national security at risk or for any potential violations of our laws," Warren said.

Reaction

Global AI stocks sink

Shashwat Chauhan

Global AI-linked stocks have fallen sharply.

As the centerpiece of the AI ecosystem, Nvidia's finances infrastructure built around its chips - a strategy that has drawn scrutiny over circular funding and now risks weighing on the sector as its crisis deepens.

AI stocks have struggled after the Democrats swept the midterm elections, including in states opposed to new data centers, stoking fears that tighter regulation could slow the AI infrastructure build-out.

Nvidia-backed neocloud firms CoreWeave dropped 16.6% after surging more than 27% in the previous session when its earnings ignited a relief rally in AI stocks.

Other neocloud stocks like Applied Digital were also trading lower, with IREN down 11%.

"He's the face of Nvidia and Nvidia has been front and center of the AI build-out," said Jun Bei Liu, lead portfolio manager at Ten Cap.

"And if we look at how many new cloud data center businesses have been sponsored in this circular financing world, it's pretty much all by Nvidia. And so it has quite a meaningful ramification for what is to come."

Breaking

Nvidia shares slump 13% at market open

As expected, Nvidia's shares have opened sharply lower. They are set for their biggest daily drop since January 2025.

The fall has taken the company's market value below $4 trillion for the first time since July 2025.

'We will continue to grow our business,' says new Nvidia chair

David Shepardson

We can also bring you a memo sent to Nvidia employees by Harvey Jones, who has just been appointed as the first chair of the company's board of directors.

"Dear NVIDIA Employees,

I am writing to share an important update. Jensen has resigned as CEO and Board Member, and the Board has asked our Chief Financial Officer Colette Kress to serve as interim CEO while it conducts a search for a permanent successor looking at both internal and external candidates. I will serve as the first-ever Chair of the Board.

As CFO for over 13 years, Colette has been a key architect of NVIDIA’s growth and capital strategy. She possesses a deep understanding of this business and the markets in which we operate. The Board has full confidence in Colette to deliver on our commitments to shareholders, customers, partners, and to each of you.

Jensen’s contributions to NVIDIA are profound. NVIDIA is one of the most consequential technology companies in the world. We pioneered accelerated computing, defined the modern GPU, and built the platform that powered artificial intelligence.

The Board takes seriously our duty as stewards of this great company.

The strength of this company resides in our employees, leadership team, technical strength and partner ecosystem. I am confident that under Colette’s leadership, with the full support of the Board, we will continue to grow our business, and lead the industry forward. Thank you for your focus, your professionalism, and your commitment to NVIDIA.

Harvey Jones Chair, NVIDIA Board of Directors"

'Let's move forward together,' Kress tells employees

David Shepardson

Kress has sent a memo to Nvidia employees, which we've seen a copy of.

Here is what it says:

"Dear NVIDIANs,

I believe deeply in this company and in its future. More than anything, I believe in each of you, in our customers and partners and in the vital role we play every day in the global economy.

The Board, Estaff (executive staff) and I recognize that this has been an extraordinarily difficult period and I want you to know how grateful we are for your resilience, professionalism and continued dedication. Thank you.

This company has achieved so much because of the work that all of you bring to it every single day. You are our greatest strength. You will hear more from leadership in the coming days about our future together, and we will host a company meeting on November 18 at 9 a.m. PT.

We play a vital role in building the technology that is powering the AI revolution, and we have important work ahead of us. So let's move forward together, with the same determination and commitment that have always defined this company.

Thank you for all you do, 

Colette"