Jensen Huang resigned as Nvidia’s CEO and from its board after two reported affairs; finance chief Colette Kress is interim CEO.
He co-founded Nvidia in 1993 and ran it for 33 years. The board accepted his resignation Wednesday, Nov. 11, according to Nvidia’s SEC filing, and the company announced it the next morning.
He had admitted an affair with Alice Huang, a former executive at Megaspeed, a company that buys Nvidia chips. U.S. intelligence suspects her of spying for China. He was then reported to have had a second affair with an executive who reported directly to him. Attorney General Todd Blanche said the Justice Department has not concluded whether Alice Huang spied for Beijing.
Who runs Nvidia now, per the filing
- Colette Kress, 59
- Interim CEO. Finance chief since 2013, she keeps that job too.
- Harvey C. Jones, 73
- The board’s first-ever chairman. A former Synopsys CEO, on the board since 1993.
- Huang, 3.58% 870.6 million shares
- Vanguard and BlackRock more than 7% each, drawn at 7%
- Everyone else
His stake alone cannot elect or remove directors.
Shares fell as much as 14% Thursday, then closed down 4.3% at $166.19, per CNBC, 30.5% below the Oct. 6 close of $239.24. From Nov. 6 to 12, Nvidia fell 11.0% while the Philadelphia Semiconductor Index rose 11.9%.
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Commerce Secretary Howard Lutnick agreed to testify before the Senate Banking Committee, whose chair asked him to appear Dec. 10.
Chair Tim Scott, a South Carolina Republican, asked him for a public hearing and asked Jensen Huang for Dec. 3, warning Huang of a subpoena, per Bloomberg Law. Lutnick agreed Thursday to appear voluntarily, his spokesperson told NBC News.
Axios reported that Lutnick was handed a classified memo on Huang’s ties to Alice Huang. Critics say Commerce kept approving Nvidia sales to Chinese buyers after that. The White House says Trump has “complete confidence” in him.
No day is given for October, May or August, so each is drawn as a whole month.
Cantor Fitzgerald, the firm Lutnick ran before joining the Cabinet, held about $1.2 billion in Nvidia stock when he was nominated, per CBS News; his two eldest sons now run it.
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Jensen Huang agreed to brief the chairs of three House committees on his dealings with a woman they describe as linked to Chinese intelligence.
The chairs proposed Wednesday, Nov. 18; the date and terms are still being negotiated, and all three say they will subpoena him if talks fail. Foreign Affairs chair Brian Mast said the session will likely be under oath, transcribed and video recorded.
- Nov.13
- 18
- 26
- Dec.1
- 3
- 10
- Jan.1
- 3
- 4
- House Foreign AffairsMast’s deadline for Huang to confirm, Friday evening
- Three House chairsTheir proposed date for Huang’s briefing
- ThanksgivingSen. Thom Tillis wants Lutnick in “before Thanksgiving”
- House Foreign AffairsMast’s new ask: a closed-door, transcribed interview
- Senate BankingTim Scott asks Huang to testify, warning of a subpoena
- Senate BankingScott asks Lutnick for a public hearing
- This Congress endsHouse subpoenas generally expire
- Gregory Meeks“Come Jan. 4, there will be some hearings.”
A contempt referral already sent to the Justice Department would survive the end of this Congress.
Gregory Meeks, the top Democrat on Foreign Affairs, may set up a subcommittee on the fallout next Congress.
“I don’t want to see anything hurt Nvidia. But he has some very serious questions to answer.”Brian Mast, Republican of Florida
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Trump says the U.S. doesn’t need a deal with Iran and took Vice President JD Vance off the talks, assigning him alleged corruption in Minnesota, California and Illinois.
Trump posted at 8:07 a.m. Thursday: “We don’t need a deal with Iran. Those days have long since passed.” The U.S. naval blockade of Iranian ports stays in place instead.
Vance and Iran
- October
- Vance wrote to Mohsen Rezaei, secretary of Iran’s Supreme National Security Council, to propose a meeting, the Journal and the Times reported.
- Nov. 5
- Vance said the war cost Republicans the midterms. Trump called that “largely true.”
- Nov. 11
- The Journal said he was weighing face-to-face talks.
- Nov. 12
- Trump told him to give his “complete and total attention” to alleged corruption and crime in Democratic-run cities and states.
Trump added, “we’ve got their money, Hundreds of Billions of Dollars, and we’ve got their Strait!” He did not say what money he meant. Brent crude settled 3.3% higher at $95.82 a barrel. Rezaei said Iran will not send “a single atom” of its enriched stockpile abroad, Bloomberg reported.
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After about two hours with Putin, U.S. envoys Steve Witkoff and Jared Kushner say a European representative will join the next Ukraine talks.
They met in the Kremlin Thursday, then flew to Dublin to brief Ukraine’s president, Volodymyr Zelenskyy. No date or venue for the next meeting has been published, and Europe has not named its representative.
Putin repeated that he would treat foreign peacekeepers in Ukraine as a “continuation of war.” The two sides are still stuck on territory. Per the Institute for the Study of War, Russia’s foreign minister restated Putin’s June 2024 terms: Ukraine must leave all of Donetsk, Luhansk, Zaporizhzhia and Kherson.
Donetsk
Zaporizhzhia
Kherson
Zelenskyy, who said progress was made, is aiming for a deal by the beginning of 2027.
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A HUD rule requires everyone in federally funded public housing to prove citizenship or eligible immigration status, ending a 1995 policy for mixed-status families.
That policy let families in which some members are citizens or eligible immigrants and others are not live together, with the subsidy cut to cover only the eligible members. The ineligible members already got no federal help. The Center on Budget and Policy Priorities estimates about 80,000 people in 20,000 such families could be displaced, including about 37,000 children, most of them U.S. citizens.
The rule’s clocks
- Dec. 14
- The rule takes effect.
- 90 days
- For mixed-status families to submit proof of status.
- Up to 60 more
- For tenants who certify that evidence is temporarily unavailable.
- 30 days
- To request a hearing after a termination notice. Aid continues through it.
A HUD audit found nearly 200,000 tenants whose status was incomplete or unverified, a separate and larger group; many may simply be missing paperwork. HUD Secretary Scott Turner: “American taxpayers will no longer foot the bill.” Marie Claire Tran-Leung of the National Housing Law Project: “This is tearing apart families and sowing division.”