Nvidia CEO Jensen Huang resigns in big blow to AI boom

Nvidia chief executive Jensen Huang is leaving the company and its board, Business Recorder reported on Thursday. Chief Financial Officer Colette Kress has been appointed interim CEO while the chipmaker considers internal and external candidates for a permanent replacement. Nvidia also selected former Synopsys chief Harvey Jones as its first board chair.

Nvidia shares fell more than 12% in early trading, with the company facing a potential market-value decline of about $500 billion. The report says Huang’s departure adds uncertainty for the roughly $4 trillion chipmaker and the AI industry it helped finance, while investors are already questioning the costs and debt linked to the AI boom. Huang’s exit also comes amid scrutiny over reported relationships and concerns involving US-China chip restrictions.