Today (November 12, 2026), Nvidia announced that co-founder and longtime CEO Jensen Huang has resigned as President, Chief Executive Officer, and Board member, effective immediately.
The decision follows intense scrutiny over personal and potential national-security-related controversies. Chief Financial Officer Colette Kress has been appointed Interim CEO while remaining CFO. https://www.youtube.com/watch?v=aioLZFt2Xwc The board has also named longtime director Harvey C. Jones as its first-ever Chair and launched a search for a permanent successor, with a high-profile Apple exec tipped as an early frontrunner.
Nvidia shares reacted sharply, falling more than -10% in premarket trading and extending recent losses that have erased hundreds of billions in market value. As of midday trading, NVDA was fluctuating near the mid-$150s to low-$160s range.
What Was the Scandal that Led to Jensen Huang’s Resignation as Nvidia CEO?
Nvidia CEO Jensen Huang allegedly has a second affair on top of the suspected Chinese spy.
He also had a romantic relationship with Kimberly Powell, someone who worked at Nvidia since 2008, according to a New York Times report. pic.twitter.com/QJRTnJb8c6
— Pubity (@pubity) November 11, 2026
The resignation stems from revelations of two extramarital affairs. The first involved Alice Huang, a businesswoman linked to the Singapore-based AI company Megaspeed, a significant Nvidia customer. US authorities have identified her as a suspected asset of China’s Ministry of State Security.
Reports indicated Huang had been photographed with her on multiple occasions, raising concerns about potential intelligence targeting of the Nvidia CEO.
Huang publicly apologized to employees for being unfaithful to his wife but denied compromising national security or company secrets. The situation escalated further when additional reporting alleged a second relationship with Kimberly Powell, Nvidia’s vice president of healthcare and a direct report to Huang.
These dual revelations prompted Nvidia’s board to open an internal investigation and ultimately accept Huang’s resignation after a late-night meeting.
The combination of personal misconduct involving a subordinate and the national-security implications surrounding the alleged Chinese intelligence connection proved decisive.
Who Is Colette Kress and Who Is the Apple Exec Tipped for the Permanent CEO Role?
https://twitter.com/JesseCohenInv/status/2120779503119012207 Colette Kress has served as Nvidia’s Executive Vice President and Chief Financial Officer since September 2013. Before joining the company, she spent nearly 25 years in senior finance roles at major technology firms,
These firms include Cisco (where she was CFO of the Business Technology and Operations organization) and Microsoft (where she was CFO of the Server and Tools division), as well as earlier positions at Texas Instruments.
She holds a bachelor’s degree in finance from the University of Arizona and an MBA from Southern Methodist University. During her tenure as CFO, Nvidia’s revenue grew dramatically from roughly $4Bn to over $200Bn as the company became the dominant force in AI accelerators.
As Interim CEO, she is tasked with providing continuity while the board searches for a permanent replacement, with Apple’s Johny Srouji tipped as an early frontrunner. Market Intelligence: Crypto Analyst Reveals Upcoming Coinbase Listings
Hyperliquid’s NVDA Tokenized/Perpetual Exposure and Technical Analysis
Hyperliquid offers leveraged perpetual contracts tied to Nvidia’s share price, allowing traders 24/7 exposure without holding actual shares. These instruments track the underlying stock closely and have seen heavy volume during the scandal.
Since the initial reports of the affair and board investigation emerged in early November, the Hyperliquid NVDA perpetual has mirrored the traditional stock’s sharp decline.
The mark price has dropped from near or above $170–$175 to the mid-$150s, settling around $158–$160 by November 12, representing roughly a 9–11% decline in the most recent sessions alone and larger cumulative losses from pre-scandal highs.
Open interest has remained elevated (hundreds of millions of dollars), reflecting active speculative positioning, while funding rates have fluctuated as longs and shorts adjust.
Volume spiked significantly on the resignation news, consistent with forced liquidations and rapid repositioning. Technically, the contract has broken key short-term support levels, with momentum indicators deeply oversold in the near term.
Any stabilization in traditional NVDA stock would likely be reflected quickly on Hyperliquid, though the platform’s high-leverage environment amplifies both downside volatility and the potential magnitude of a bounce.
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Daniel Frances is a technical writer and Web3 educator specializing in macroeconomics and DeFi mechanics. A crypto native since 2017, Daniel leverages his background in on-chain analytics to author evidence-based reports and deep-dive guides. He holds certifications from The Blockchain Council, and is dedicated to providing “information gain” that cuts through market hype to find real-world blockchain utility.