Colette Kress named interim CEO as Nvidia navigates boardroom tensions and AI investment scrutiny

Nvidia announced that chief financial officer Colette Kress will serve as interim chief executive following Jensen Huang's resignation as president and chief executive. The leadership change comes after reports of a strained relationship between the two executives, including an August boardroom meeting where Huang interrupted Kress's presentation and called her a "deer in the headlights."

Sources said Kress, who has been Nvidia's CFO for 13 years, often questioned Huang's large-scale AI investments, urging caution on financial risk. Reuters reported that she pushed back on a proposed $250 billion financing plan for an OpenAI data-center project in Ohio, which was later reduced to $120 billion. She also raised concerns about credit-support deals that would require partners to share revenue with Nvidia and about the rapid expansion of financing programs championed by Huang.

Industry observers noted differing management styles: Kress described as calm and measured, Huang as confrontational. The shift in leadership may also affect Nvidia's approach to Washington, with expectations that the company will prioritize building relationships with policymakers rather than confronting export-control issues.

Huang's resignation was linked to media reports about his personal relationships with a woman alleged to have ties to Chinese intelligence and two Nvidia executives, claims that have not been verified. The departure also highlighted the presence of Huang's family members within the firm, including his daughter Madison and son-in-law Nico Caprez.

Kress now faces the task of guiding Nvidia through a period of intense AI market growth, substantial investment commitments and heightened scrutiny of its business practices.