Key Highlights

  • Jensen Huang resigned as president, chief executive and board member of Nvidia (NASDAQ:NVDA) effective immediately on November 12, 2026, and CFO Colette Kress became interim chief executive.
  • The board named Harvey Jones its first-ever chair, began a search for a permanent chief executive and said the Earnings date is unchanged.
  • Nvidia will report fiscal third quarter 2027 results on Tuesday, November 17, 2026, against guidance of USD 108.0 billion in revenue, plus or minus 2%.
  • The shares fell about 10% in premarket trading on November 12, after closing at USD 173.73 on November 11, roughly 27% below their October record close.

What the Company Announced

The announcement ended a week of speculation about the future of Nvidia's founder. In a statement dated November 12, 2026, the company said Jensen Huang had resigned as president, chief executive officer and a member of the board, effective immediately. Colette Kress, who has served as executive vice president and chief financial officer since 2013, becomes interim chief executive while remaining chief financial officer until a permanent successor is named. The board created the role of independent chair for the first time and appointed Harvey Jones, a former chief executive of a major chip design software company. It said it is starting a search that will consider internal and external candidates. The new chair said the board has full confidence in Kress and the Leadership team, and Kress said the focus remains on customers, partners, developers and shareholders. The resignation followed media reports that the board was preparing to remove Huang after reports about his personal conduct. The allegations are reported and have not been confirmed by the company.

The Numbers Behind the Report

Nvidia confirmed that its results will be published on November 17 as scheduled, with the call following that afternoon. The bar is already set. In late August the company posted second quarter fiscal 2027 Revenue of USD 96.2 billion, up 18% from the prior quarter and 106% from a year earlier, with Data Center revenue of USD 89.0 billion. For the third quarter it guided to revenue of USD 108.0 billion, plus or minus 2%, gross margins of 74.0%, plus or minus 50 basis points, and non-GAAP operating expenses of about USD 9.0 billion, assuming no data center compute revenue from China. Investors will look for revenue at or above the top of the range, stable margins and a fourth quarter outlook that signals continued growth into calendar 2027. The shares of Nvidia (NASDAQ:NVDA) had risen 2.87% on November 11 before the reports emerged, after a two-day slide that erased more than USD 430 billion of market value.

Governance, Succession and Reaction

The market's focus has moved from whether a change will happen to how it is executed. The company has a clear interim structure, but no permanent successor, and investors will watch whether senior engineers and customer relationships stay intact. Commentary on November 11 and 12 named the creator of the CUDA software platform as a leading internal candidate, though the company has named no one. Analysts reacted quickly. One widely followed analyst cut a USD 300 price target to USD 225 to reflect the departure, and another brokerage downgraded the stock and removed its price target, calling the exit a potentially thesis-changing event. Others focused on execution of the transition. Lawmakers had also requested a closed-door briefing on the matter, so regulatory scrutiny may continue. The November 17 call will be the first major test of Kress's leadership and of customer commitments for 2027.

Where Things Stand

Jensen Huang resigned as Nvidia (NASDAQ:NVDA) chief executive and director on November 12, 2026. CFO Colette Kress is interim chief executive, Harvey Jones is the first chair, and a permanent search is under way. Results are still due on November 17 against a USD 108.0 billion revenue guide, and the shares fell about 10% premarket as investors reassess leadership risk.