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- Huang and Lutnick Summoned to Testify Before Congress
Senator Tim Scott said he had requested that the Nvidia co-founder and the commerce secretary appear before the Senate Banking Committee. [TheTopNews] Read More.9 mins ago - Meet Nvidia’s new interim CEO: The fortune and rise of Colette Kress
Nvidia's appointment of Colette Kress as interim CEO puts one of the most powerful women in tech at the helm of the company whose chips and computing systems have become the backbone of the artificial intelligence boom.The major leadership shakeup Thursday followed the board's ouster of CEO Jensen Huang amid reports of alleged extramarital affairs, including one involving a woman reportedly accused of being a Chinese spy.Kress, 59, who spent 13 years at Nvidia as its chief financial officer (CFO) and executive vice president, ranks No. 32 on Forbes' list of America's richest self-made women, with an estimated net worth of $1.2 billion.As of Wednesday, her Nvidia shares were valued at roughly $750 million after a stock decline in the wake of the leadership shakeup, according to Reuters.COLETTE KRESS NAMED NVIDIA INTERIM CEO AS JENSEN HUANG'S ABRUPT RESIGNATION RAISES INVESTOR CONCERNSAccording to a 2023 interview with Israeli business news outlet Globes, Kress first joined Nvidia in 2013 after her sons told her about the chipmaker's prominence in the video game industry. At the time, Nvidia's operations were largely centered on gaming technology, years before the company became a dominant force in AI computing.When she joined, Kress told Fortune in 2024 that Nvidia was "the smallest company that I’d ever worked for." Before that, she had spent nearly 25 years in various finance roles at major technology companies. "I think more investors really now understand who we are because, 10 years ago, probably few could articulate our long-term vision," she told Globes. "I call it the 'supermarket test'. Years ago, if you walked into the grocery store wearing a green Nvidia shirt, some people wouldn't understand what that was. Today, I believe that people know our company and are learning what graphic processors can do for artificial intelligence," she added.NVIDIA LOSES ITS 'GODFATHER OF AI' AND NOW FACES FIRST BIG TEST WITHOUT HIMNvidia's revenue stood at $4.13 billion in the fiscal year Kress joined the company, compared with $215.9 billion in fiscal 2026, according to the company's earnings reports.Regulatory filings show that Kress' compensation includes restricted stock units, including a March 2026 award scheduled to vest over four years.Unlike many competing technology companies, Nvidia also operates under an at-will employment arrangement, allowing it to terminate top executives without owing them a pre-negotiated severance payout.TRUMP SAYS 'THERE IS ONLY ONE MAN' TO REPLACE JENSEN HUANG AS NVIDIA CEOBefore joining Nvidia, Kress spent more than… [TheTopNews] Read More.25 mins ago - The rise of ‘housefishing’ – when does using AI go from enhanc...
Experts warn that using AI to enhance property images can go too far and mislead prospective buyers. [TheTopNews] Read More.1 hour ago - Jensen Huang joins list of high-profile founders ousted from their own companiesJensen Huang, the former Nvidia CEO who resigned Thursday amid an internal investigation into his relationship with a suspected Chinese spy and a second extramarital affair, has joined a high-profile list of executives ousted from the companies they founded.Huang's exit followed heavy scrutiny over his affair with Alice Huang, an executive at Singapore-based Megaspeed whom U.S. intelligence identified as a Chinese intelligence asset operating under corporate cover. He was already under the microscope over that relationship when The New York Times reported a second affair with an Nvidia employee who reported to him.Nvidia was founded in 1993 by Huang, Chris Malachowsky and Curtis Priem, a trio of electrical engineers who hatched their plan at a Denny's restaurant in California's Bay Area.NVIDIA CEO JENSEN HUANG APOLOGIZES AS FIRM PROBES AFFAIR WITH ALLEGED SPYHuang's departure from the tech giant is the latest in a long line of embattled founders who were either fired or forced to step down. Here is a look at other notable founders who were pushed out of their own companies:Jack Dorsey resigned as the CEO of Twitter, now X, in 2021 and stepped down from its board a year later. At the time, he led the social media giant he co-founded in 2006. Dorsey was also serving as the CEO of the financial payments company Square. Investors and observers had grown concerned that Dorsey's focus was split between both companies, while the platform also faced regular criticism over perceived bias against conservative voices. "I've decided to leave Twitter because I believe the company is ready to move on from its founders," Dorsey said at the time of his departure.Mike Lazaridis, the co-founder of Research In Motion (RIM), the maker of BlackBerry, stepped down alongside co-CEO Jim Balsillie in 2012 as the cellphone pioneer struggled to compete with Apple. The pair had revolutionized the tech world with the BlackBerry, which became an indispensable business tool for its game-changing features. However, the company quickly lost market share and fell into obscurity following the 2007 release of the iPhone.Uber co-founder Travis Kalanick was ousted from the rideshare giant in 2017 under mounting investor pressure. He was forced to resign after a string of scandals involving a toxic workplace culture, regulatory battles and allegations of sexual harassment. "I love Uber more than anything in the world, and at this difficult moment in my personal life I have accepted the investors' request to step aside so that Uber… [TheTopNews] Read More.2 hours ago
- Nvidia Scandal Unleashes a Flood of AI-Generated MemesThe revelations surrounding Jensen Huang, who resigned from Nvidia over extramarital affairs, inspired social media posts using the very technology his company helped develop. [TheTopNews] Read More.3 hours ago
- Colette Kress named Nvidia interim CEO as Jensen Huang’s abrupt resignatio...The abrupt resignation of Jensen Huang as CEO of Nvidia on Thursday following reports he engaged in multiple extramarital affairs leaves the AI giant facing an uncertain future, while a longtime company executive is stepping in as interim CEO.Huang co-founded Nvidia in 1993 and served as its CEO until his resignation, transforming the company from a struggling startup into one of the world's largest by market capitalization amid surging demand for its AI chips. He became a visionary and figurehead for the AI revolution.Nvidia chief financial officer and EVP Colette Kress has been named as the company's interim CEO and has served as Nvidia's CFO since September 2013. She has deep experience in tech finance, as she previously worked as a CFO for Cisco's business technology and operations finance unit and was also CFO of Microsoft's server and tools division during a 13-year tenure at the software giant.Analysts view Kress, who has featured prominently in Nvidia's quarterly earnings calls, as a steady hand who can help the company navigate a tumultuous period following the departure of its longtime leader.NVIDIA LOSES ITS 'GODFATHER OF AI' AND NOW FACES FIRST BIG TEST WITHOUT HIMBret Kenwell, U.S. investment analyst at eToro, said that while "Huang was more than a CEO – he was part of the investment thesis," the selection of longtime Nvidia executive Kress as interim CEO should "provide stability and reassurance" to investors."Kress has been a familiar presence at Nvidia and on its conference calls, offering a recognizable voice during an already fragile situation," Kenwell added.Nvidia is scheduled to report quarterly earnings next week on Tuesday, Nov. 17, which will give Kress an early opportunity to assuage investors' concerns.Dan Ives, partner and senior managing director at Yorkville Ives, said in a note that "Kress has built enormous credibility internally and externally and we are big fans of her strategically.""We always believed she would eventually be CEO of a major public tech company, but she would have to leave Nvidia after many years there," Ives added.TRUMP SAYS 'THERE IS ONLY ONE MAN' TO REPLACE JENSEN HUANG AS NVIDIA CEOHuang's departure will pose other challenges for Nvidia and Kress given the level of visibility he brought to Nvidia's AI business and his ability to broker deals around the world.Susannah Streeter, chief investment strategist at Wealth Club, said that Kress will be viewed as a "safe pair of hands" who has "been brought into… [TheTopNews] Read More.3 hours ago
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