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BackJensen Huang didn’t show confidence in his successor, report says
Jensen Huang didn’t show confidence in his successor, report says
BREAKING
TechCrunch10 minutes agoBusiness1 min readUnited States

Jensen Huang didn’t show confidence in his successor, report says

Report details internal friction over credit-based deals and personal conduct allegations

nvidiajensen huangcollette kress

Quick Look

  • Nvidia CFO Collette Kress has been named interim CEO after Jensen Huang resigned amid reports of extramarital affairs and an espionage investigation.
  • Tensions between the two had previously surfaced regarding Nvidia's credit-based data center financing.

AI-generated summary

Why It Matters

Jensen Huang resigned following allegations of extramarital affairs and an ongoing investigation into potential Chinese espionage. Internal friction existed between Huang and CFO Collette Kress regarding credit-based financing deals.

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Former NVIDIA CEO Jensen Huang described Collette Kress, the company’s CFO who has now replaced him as interim CEO, as “a deer in the headlights” during a presentation earlier in the summer, the Wall Street Journal reported, citing an anonymous source.

Huang made the comment during a meeting with Nvidia’s finance team about the company’s plans to provide guarantees worth billions of dollars to data center operators that couldn’t afford to buy its chips upfront, according to the report.

He reportedly also said Kress was a person who couldn’t help him steer strategy or decision-making.

Kress has been with Nvidia for over 13 years now, after serving as SVP and CFO of Cisco’s Business Technology Operations Finance. The report said she has questioned Nvidia’s program-focused, credit-based deals involving Huang’s son-in-law Nico Caprez, and wanted to know how to decide which deals are beneficial, how to value guarantees, and determine returns.

Earlier in the year, she had scaled back on Nvidia’s commitment for OpenAI’s ambitious Ohio data center project. The company was in talks to provide $250 billion in credit to OpenAI, but ended up committing $105 billion.

Huang resigned Thursday after reports of two extramarital affairs, including one with the company’s VP for healthcare, Kimberly Powell. The company is also investigating a possible Chinese espionage plot.

What to Watch

AI outlook — possibilities, not facts

  • Nvidia will launch a formal internal audit of credit-based deals.

    Likely · Within weeks

Open Questions

  • What is the scope of the Chinese espionage investigation?
  • Will the board appoint a permanent CEO soon?

Related Topics

nvidia
PeopleJensen HuangCollette KressNico CaprezKimberly Powell
OrganizationsNvidiaWall Street JournalCiscoOpenAI
Topicsjensen huangcollette kresscorporate governanceleadership change
This article was originally published by TechCrunch.

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