Jensen Huang officially stepped down as Chief Executive Officer and member of Nvidia’s board of directors on November 12, 2026. The decision marks the end of his 33-year leadership since co-founding Nvidia in 1993 with Chris Malachowsky and Curtis Priem. The departure of the founder immediately reverberated across digital asset markets.
Bitcoin fell below $73,000 shortly after the news broke. A swift sell-off in derivatives markets triggered $222 million in crypto long liquidations in just 30 minutes, as broader turmoil weighed on the US tech sector.
The Investigation Behind the Founder’s Resignation
The abrupt move follows an investigative report detailing two extramarital relationships. An internal probe examined Huang’s ties with Alice Huang, a Singapore-based executive at Megaspeed International who is under scrutiny by US intelligence authorities over suspected chip exports to China. The investigation also looked into Huang’s relationship with Kimberly Powell, Nvidia’s Vice President of Healthcare, who reported directly to him.
Stock markets responded to the news with heavy selling. Nvidia shares (NVDA) tumbled up to 10% in pre-market trading to $156 per share, following a drop of more than 8% during regular trading hours. Nasdaq 100 futures also fell around 1%.
Beyond Nvidia, market movements rippled across the semiconductor supply chain. Shares of AI infrastructure partner CoreWeave slipped roughly 6% in after-hours trading. In contrast, rival chipmakers posted gains, with AMD rising around 4% and Broadcom climbing about 3%.
Who Is in Charge Now
Addressing the leadership vacuum, the board of directors appointed Chief Financial Officer Colette Kress as interim CEO. Kress will oversee day-to-day operations while the search for a permanent successor takes place, while continuing her duties as CFO.
The board also named Harvey C. Jones as Nvidia’s first Chairman of the Board. Jones is a veteran executive and former CEO of Synopsys who will now lead strategic oversight.
Nvidia emphasized that corporate milestones will not be delayed. The release of its third-quarter fiscal 2027 financial results remains on schedule for November 17, 2026, followed by an earnings conference call with management.
$105 Billion Infrastructure Commitment Amid Leadership Transition
The executive transition comes as Nvidia manages several massive artificial intelligence infrastructure projects. These commitments include a 20-year data center partnership with OpenAI, as well as an Ohio facility backed by $105 billion in guarantees.
For crypto market participants, the $222 million in long liquidations within 30 minutes highlights how quickly turmoil in the semiconductor sector can spill over into digital asset exchanges.
Reported via crypto.news.
Previously: Nvidia Board Reviews Jensen Huang - Tokenized Stocks and Crypto Derivatives Plunge 10%
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
