Nvidia's CEO Jensen Huang Steps Down

Nvidia's CEO Jensen Huang has stepped down from the company he started 33 years ago. He helped grow Nvidia into a $4 trillion company that is central to the rise of artificial intelligence.

Colette Kress, the chief financial officer (CFO), will take over as interim CEO. The company shared this news in a statement on its website on Thursday. Ms Kress will keep her role as executive vice president and CFO while she serves as interim CEO until a new leader is found.

The board of Nvidia is now looking for a permanent CEO. They will consider candidates from inside the company as well as outside.

This leadership change comes after reports surfaced about an affair involving Mr Huang, an alleged Chinese spy, Alice Huang, and a company worker named Kimberly Powell. Mr Huang admitted to being unfaithful to his wife in an email sent to Nvidia's employees on November 8.

After this, Nvidia's board announced it would investigate claims that he was targeted by foreign intelligence. They stated they had no evidence that Nvidia's trade secrets or the US national security were at risk, but they would look into the matter.

This issue has drawn attention from investors. Nvidia’s share prices fell as there were worries about management and what a change in leadership might mean for the company.

"Jensen’s contributions to Nvidia are profound. Nvidia is one of the most important tech companies in the world. The board and the company thank Jensen for his immeasurable contributions to the company and the industry," said the company in the statement on Thursday.

Mr Huang co-founded Nvidia with Chris Malachowsky and Curtis Priem in April 1993. He has been the CEO since the company began.

Ms Kress joined Nvidia in September 2013. She has been in charge of its finance team, helping the company grow and develop.

Before coming to Nvidia, she worked for almost 25 years in finance roles at tech companies like Cisco and Microsoft.

In her first message as interim CEO, Ms Kress said the company will build on what Mr Huang started over the past 33 years.

"Nvidia’s strength has always come from its people. Together with our leadership team, I am committed to building on the extraordinary foundation Jensen created over the last 33 years," she said.

She also mentioned that the company will keep pushing forward in accelerated computing and artificial intelligence while focusing on customers, partners, developers, and shareholders.

The board has also named Harvey Jones as its first-ever chair. Mr Jones has more than 30 years of experience as an entrepreneur, tech executive, and venture investor.

He previously served as CEO and executive chairman of Synopsys. Commenting on Ms Kress' appointment, Mr Jones said she has led NVIDIA through a time of great growth and knows the business, customers, and finances well.

He expressed confidence in her and the leadership team. He believes the company’s operations, customer commitments, and product plans will continue smoothly.

Nvidia, listed on the Nasdaq under the symbol NVDA, is a leading supplier of processors used in artificial intelligence systems and accelerated computing.