The guy in the leather jacket who built the AI boom might be about to lose his job. Yeah. That Jensen Huang.
On Wednesday, 11 November 2026, The Wall Street Journal reported that the Nvidia board may oust Jensen Huang, the co-founder who has been the company's only CEO for 33 years. Reuters says the board was meeting late Wednesday (US time) to decide his future. Nvidia's stock dropped about 8% in after-hours trading.
So what actually happened, who could replace him, and why should you care if you don't own a single Nvidia share? Let's break it down. Facts only, no gossip filler.
TL;DR - The WSJ reports Nvidia's board is preparing to remove CEO Jensen Huang. As of 9 AM IST on 12 Nov, no final decision had been announced. - It follows two alleged extramarital affairs: one with a woman US intelligence reportedly flagged as a Chinese intelligence asset, and one with an Nvidia executive who reports to him (per The New York Times). - Nvidia stock fell about 8% after hours. Reuters says about $600 billion in market value could be gone since the investigation was announced. - CFO Colette Kress is the name some directors reportedly favour as interim CEO. - Nvidia's next earnings report is due 17 November.
Why Nvidia's Board May Oust Jensen Huang
Here's the timeline, in order, based on reporting from Reuters, TechCrunch, The Verge and DW.
| When (2026) | What happened |
|---|---|
| Sun, 8 Nov | Huang tells employees in a memo he was unfaithful to his wife and takes "full responsibility". The board announces an independent investigation into reports that he was "the target of a foreign intelligence effort", but says it has confidence in him. |
| Mon, 9 Nov | Shareholders file a proposed class-action lawsuit, accusing Nvidia and Huang of hiding the relationship and its risks (DW). |
| Wed, 11 Nov | The New York Times reports a second alleged affair, with Kimberly Powell, Nvidia's vice president of health care. Then the WSJ reports the board is preparing to fire Huang. |
| Wed night (US) | Reuters says the board is meeting to decide. Semafor says the board briefed the White House about the meeting. |
The first relationship is the big one. According to the reports, the woman, identified by the NYT as Alice H., is a former executive at Singapore-based data centre company Megaspeed. US intelligence was reportedly probing her for helping move Nvidia chips to Chinese firms. Beijing has rejected the spy allegation. Nvidia said it had "no reason to believe" national security or company secrets were compromised.
When the NYT asked Huang about the second relationship, he reportedly said, "I don't think you should be talking to me directly," and hung up. Nvidia and Powell didn't immediately comment.
Important: most of this comes from anonymous sources quoted by major outlets. Nvidia has not announced any leadership change. Treat it as a developing story, not a done deal.
Can the Board Actually Fire the Founder?
Short answer: yes.
Reuters reports that under Nvidia's bylaws, the CEO can be removed "with or without cause" by a majority vote of directors. Nvidia has 11 directors, and it counts all of them except Huang as independent. Huang owns about 3.6% of the stock, which is a lot of money but nowhere near enough to block a vote.
What changed so fast? On Sunday the board said it had confidence in him. By Wednesday the WSJ said it was preparing to move. The Verge notes the board hired former US attorney Joon H. Kim and the law firm Wachtell, Lipton, Rosen & Katz to run the investigation, but it seems it may not wait for the results.
Who Could Replace Jensen Huang?
This is the part Wall Street is losing sleep over. Huang has around 60 direct reports and, as TechCrunch points out, Nvidia has no obvious successor or public succession plan. The names floating around:
- Colette Kress (interim pick): Nvidia's CFO since September 2013. Semafor reports some directors favour her as interim CEO if Huang goes. She previously worked at Cisco and Microsoft (CFO Dive).
- Ian Buck: He runs the business that serves Nvidia's data centre customers. Polymarket odds favoured him as successor, per Reuters.
- Johny Srouji: Apple's hardware chief. Semafor says he is one person being considered for the top job.
Bloomberg reported that the board is working with an outside search firm to find candidates. None of these names is confirmed.
Why This Matters (Even If You Don't Own Nvidia Stock)
Nvidia isn't just "a chip company". It's the company whose GPUs train and run most of the AI you use, from ChatGPT to Claude to Gemini. Reuters puts its value at roughly $4 trillion. So a leadership crisis here ripples out fast:
- AI prices and supply. Every big AI lab depends on Nvidia's roadmap. Uncertainty at the top makes customers and investors nervous. If you want the context on how hot the AI money race is right now, read our explainer on the Anthropic IPO.
- US–China chip rules. Reuters says lawmakers have started pushing for tighter export curbs on chips to China since the spy reports. That affects which chips get sold where.
- Your index fund. Nvidia is one of the biggest companies in the US stock market, so its swings hit a lot of retirement and index funds in the US, UK and beyond.
- Earnings on 17 Nov. Investors will hear Nvidia's results in five days. Whoever is in charge will be under a massive spotlight.
It also lands in a week when AI money nerves are already high. The Neuron's daily digest notes that a US Federal Reserve governor, Michelle Bowman, warned AI investments could trigger a market correction if returns disappoint.
What Happens Next?
Watch for three things:
- An official Nvidia statement on the board's decision. Until then, everything is "reportedly".
- Who gets named interim CEO, if anyone.
- The 17 November earnings call, where Nvidia will have to talk about leadership, guidance and China.
We'll update this post when Nvidia makes it official. And if you see a "leaked resignation letter" screenshot on your feed today, be careful. Big breaking stories attract fakes fast. Here's our guide on how to check fake news before you share.
FAQ
Has Nvidia fired Jensen Huang?
Not officially, as of 9 AM IST on 12 November 2026. The Wall Street Journal and Reuters report the board was preparing to remove him and meeting to decide, but Nvidia had not announced a decision.
Why might Nvidia's board oust Jensen Huang?
Reports describe two alleged extramarital affairs: one with a woman US intelligence reportedly identified as a Chinese intelligence asset, and one with Nvidia executive Kimberly Powell, who reports to him. The board is also running an independent investigation.
Who could be Nvidia's interim CEO?
Semafor reports some directors favour CFO Colette Kress as interim CEO. Ian Buck and Apple's Johny Srouji have also been named in reports as possible long-term candidates.
How much did Nvidia stock fall?
Nvidia shares fell more than 8% in after-hours trading on 11 November after the WSJ report, according to Reuters and TechCrunch.
Can a board fire a company founder?
Yes. Reuters reports that Nvidia's bylaws allow the CEO to be removed with or without cause by a majority vote of the 11 directors.
When is Nvidia's next earnings report?
Nvidia is due to report quarterly results on 17 November 2026.
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Source: The Wall Street Journal first reported the board's plans; facts in this post are from Reuters via CNA (main source), TechCrunch, The Verge, Semafor, DW, CFO Dive and The Neuron. Last checked 12 November 2026, 9 AM IST.
Image credits
- Featured graphic: original Factash design.
- Photo of Jensen Huang: Tomohiro Ohsumi / Getty Images, via TechCrunch (article lead image).
