Jensen Huang Resigned From Nvidia Four Days After Its Board Said It Had Confidence in Him. The CFO Is Now Doing Both Jobs, the Board Just Created Its First Chairman, and the Market Bought AMD

Nvidia announced on Thursday November 12 that Jensen Huang has resigned as president, CEO and board member, effective immediately, after 33 years; a regulatory filing says the board accepted the resignation Wednesday, the day the New York Times reported a second relationship, with an Nvidia vice president who reported to him. CFO Colette Kress becomes interim CEO while keeping the CFO job, director Harvey Jones becomes the board's first-ever chair, and a search will consider internal and external candidates. Nvidia stock fell 14% at the open and closed down 4.3% while AMD and Broadcom rose nearly 6%, leaving the S&P 500 down only 0.4%; CNBC reports Huang personally signed off on the financing deals that underwrite much of the AI buildout, and Nvidia reports earnings Tuesday.