Scandal Rocks NVIDIA, Jensen Huang Resigns and NVDA Stock Plummets

For more than 33 years, Jensen Huang’s name was almost inseparable from NVIDIA. On Thursday (12/11/2026), that bond suddenly broke. Jensen Huang resigned from NVIDIA as president, CEO, and board member, effective immediately.

The market reacted quickly. NVIDIA stock initially fell more than 13 percent at the start of Wall Street trading, then cut some losses after CFO Colette Kress was appointed interim CEO. The turmoil in NVDA stock also dragged Bitcoin to its lowest level since August.

Key Takeaways

• Jensen Huang resigned on November 12, 2026, after reports of an extramarital relationship; Colette Kress became interim CEO.
• NVDA stock initially plunged more than 13 percent, then closed at USD 166.19, down 4.34 percent.
• Bitcoin also fell below USD 72,000, while NVIDIA’s November 17 financial report becomes the next test.

Chronology of the Scandal Through Resignation

The issue began with a report by The New York Times on October 29, 2026. Huang was said to be in a relationship with Alice Huang, a former Megaspeed International executive, who according to US intelligence allegedly passed information to Beijing, as cited by The National News Desk. 

The two are not related. China denied targeting Huang, as quoted by Cointelegraph.

On Sunday (8/11/2026), the board of directors announced an independent investigation. Huang acknowledged an extramarital relationship in a message to employees and apologized. The board stated there was no reason to believe US national security or company secrets had leaked, as reported by Cointelegraph.

On Wednesday (11/11/2026), The New York Times reported an alleged second relationship with an NVIDIA employee who was under Huang. A source told CNBC that the board decided to remove Huang that same night, before the official announcement the following day.

After the resignation, Reuters reported an alleged third relationship based on two sources, as cited by Cointelegraph.

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NVDA Stock Price Movement

NVDA stock plunged more than 13 percent at the opening of the US market to around USD 151, based on Yahoo Finance data cited by Cointelegraph. The session low was USD 148.80 before the price rebounded.

Losses narrowed after Kress was appointed. NVIDIA stock closed at USD 166.19, down USD 7.54 or 4.34 percent, according to Benzinga. In after-hours trading, the price rose slightly by 0.99 percent to USD 167.84.

The real pressure had already been building. NVDA stock has fallen more than 26 percent in the past month, even though its market capitalization had touched a peak of USD 5.5 trillion on September 1, 2026, according to a Cointelegraph report.

Analysts are divided. Questar Capital Partners chief investment officer Richard Reyle argued that without a succession plan, NVIDIA stock is not worth investing in, as quoted by CNBC. Nancy Tengler of Laffer Tengler Investments instead saw a buying opportunity because the valuation is cheaper than investors think, according to Benzinga.

Read Also: MSCI Review Results: Here Is the List of Stocks Removed

Who Replaces Huang and the Next Test

Colette Kress, NVIDIA CFO since September 2013, is also serving as interim CEO. Harvey C. Jones was appointed first board chair, while the board searches for a permanent CEO from internal and external candidates, according to Cointelegraph.

The first test comes on Tuesday (17/11/2026), when NVIDIA reports fiscal 2027 third-quarter results. Kress is expected to also speak on the investor call, according to Yahoo Finance.

Political pressure has not subsided. US House Select Committee on China Chairman John Moolenaar said talks about a meeting schedule with Huang are ongoing and a subpoena is being prepared if there is no agreement, as quoted by Cointelegraph from Politico. The issues being examined include Chinese intelligence access and Huang’s lobbying for looser exports of advanced chips to China.

Read Also: Binance Hack: US Gets Permission to Seize USD 1.2 Billion in Crypto

Impact on Bitcoin and the Crypto Market

Bitcoin fell 3.5 percent and dropped below USD 72,000, its lowest level since August 20, with a month-to-date loss of 7.4 percent, Cointelegraph wrote.

Crypto position liquidations within 24 hours reached USD 730 million, based on CoinGlass data cited by Cointelegraph. Other factors also weighed: US October inflation exceeded expectations, causing the market to price in another Fed rate hike, and US PPI data on Friday becomes the next focus.

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Conclusion

Jensen Huang’s resignation closes 33 years of leadership by the founder and opens uncertainty about NVIDIA’s direction. NVDA’s stock price now depends on three things: the choice of permanent CEO, the outcome of the independent investigation, and the November 17 financial report. Crypto investors also need to monitor it, because tech stock sentiment still moves Bitcoin.

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FAQ

Why did Jensen Huang resign from NVIDIA?

The resignation followed reports of several alleged extramarital relationships, one of them with a woman suspected of passing information to China. Huang acknowledged his actions and apologized to his family and employees.

Who is NVIDIA’s CEO now?

Colette Kress is serving as interim CEO while remaining CFO until a permanent successor is appointed.

What is NVDA’s stock price after Huang resigned?

The stock closed at USD 166.19 on Thursday, after touching USD 148.80. Prices keep moving, so check the latest data before making a decision.

Is this the first CEO change at NVIDIA?

Yes. According to Cointelegraph, this is the first CEO transition in NVIDIA’s history since Huang founded it in 1993.