Nvidia shares edged higher in premarket trading on Friday before falling by more than 4%, as the market continues to assess CEO Jensen Huang’s resignation.
It comes after a volatile day for the stock on Thursday, when it plunged following news of Huang’s resignation.
Nvidia CFO Colette Kress, who joined the company in 2013, has been named interim CEO. She is seen as a strong choice to lead Nvidia, having helped guide its financial success as it transformed from a video game company into the AI juggernaut it is today. Prior to joining NVIDIA, Kress spent nearly 25 years in finance roles at leading technology companies, including Cisco and Microsoft.
In a release, the company said: “Jensen’s contributions to NVIDIA are profound. NVIDIA is one of the most consequential technology companies in the world. The Board and the company thank Jensen for his immeasurable contributions to the company and the industry.”
Harvey Jones, Chair of the NVIDIA Board of Directors, stated: “Colette has helped lead NVIDIA through a period of extraordinary growth and has a deep understanding of our business, customers, operations and financial position. She is supported by an experienced leadership team that has been instrumental in executing NVIDIA’s strategy and advancing its technology roadmap. The Board has full confidence in Colette and the leadership team, and we expect the company’s operations, customer commitments and product roadmap to continue without interruption.”
Kress told investors, “NVIDIA’s strength has always come from its people, and together with our leadership team, I am committed to building on the extraordinary foundation Jensen created over the last 33 years, We will continue advancing the work that has made NVIDIA a leader in accelerated computing and AI, and execute on the opportunities ahead. Our focus remains on serving our customers, partners, developers and shareholders.”
NVIDIA will report its third-quarter fiscal 2027 financial results on Tuesday, November 17.
Since early November, Nvidia’s stock has fallen more than 20%.
By CEO NA Editorial Staff
