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- 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.25 mins ago - Nvidia Stock Tumbles After Jensen Huang Resigns as CEO
News that the chipmaker’s chief executive, Jensen Huang, resigned drove Nvidia’s stock down, though the broader market rose slightly. [TheTopNews] Read More.60 mins ago - Nvidia loses its ‘Godfather of AI’ and now faces first big test with...The resignation of Jensen Huang as CEO of Nvidia on Thursday roiled the company's stock, as investors and analysts assessed the path forward for the AI giant.Huang, who co-founded Nvidia in 1993, resigned following reports of two extramarital affairs, including a relationship with a Chinese businesswoman whom U.S. authorities suspect of spying for Beijing which prompted a board investigation. Nvidia announced that veteran chief financial officer Colette Kress will serve as interim CEO.Nvidia shares slumped roughly 14% from Wednesday's closing price, hitting an intraday low of $148.80 per share, before paring those losses. As of early afternoon, Nvidia stock was down just 4.3%.Bret Kenwell, etoro U.S. investment analyst, said that Huang's leadership made Nvidia the "crown jewel of the AI trade" and that he was "more than a CEO – he was part of the investment thesis," which will prompt greater investor scrutiny of the company's earnings report next week.NVIDIA CEO JENSEN HUANG RESIGNS AMID INVESTIGATION INTO RELATIONSHIP WITH ALLEGED CHINESE SPYKenwell said that "Nvidia's earnings already demand close attention, but they will be under an even brighter spotlight next week as shareholders and AI investors look for stability amid the uncertainty. Investors will be looking to Nvidia for a fresh read on demand and a reason to regain confidence."While other tech companies may look to capitalize on the situation, he said that the "leadership questions do not erase Nvidia's position as a best-in-class technology company during a transformational period for the sector."TRUMP SAYS 'THERE IS ONLY ONE MAN' TO REPLACE JENSEN HUANG AS NVIDIA CEOJames McCann, senior economist for investment strategy at Edward Jones, noted that tech and AI market segments have been increasingly volatile, with the Nasdaq delivering gains or losses greater than 1% in seven of the past 10 trading days."Uncertainty around the leadership of Nvidia risks adding to this sharp price action given Huang's important role as a face of the AI boom, the lack of a clear succession plan at Nvidia, and the financial role this huge company has played in backing other parts of the AI sector," McCann said, adding that Nvidia's stock moves in the wake of Huang's resignation reflected those concerns."Despite this uncertainty, the corporate fundamentals around the giant chipmaker are unchanged, and it remains to be seen if a shift at the top of the organization will have a material effect on strategy and execution going forward," he said.McCann added that… [TheTopNews] Read More.2 hours ago
- How a 24-year-old built a $37 million media empire by asking billionaires for ad...At a time when headlines frequently focus on younger Americans embracing "quiet quitting" and demanding lighter workloads, 24-year-old James Dumoulin is flipping the script.As the co-founder of the viral media brand School of Hard Knocks, Dumoulin built a $37 million media empire with more than 26 million followers by hitting the pavement, overcoming fear and talking directly to the world's most successful business leaders."One of my favorite sayings is that, where attention goes, revenue flows," Dumoulin said during an appearance on "The Big Money Show" Thursday. James Dumoulin: "If you want to go fast, go by yourself. If you wanna go further and go big, you gotta go with people together."The young entrepreneur and social media personality explained how he started the brand with his brother and childhood friend. Rather than relying solely on the unpredictability of digital advertising revenue, Dumoulin said they diversified their portfolio and now operate four distinct business ventures.YOUNG MILLIONAIRE REVEALS THE WEALTH-BUILDING LESSONS HE LEARNED FROM BILLIONAIRES"Logan Paul told me, ‘You have to know how to yield that attention into actual businesses.’ So we got really intentional about why do people follow us? And we decided to build businesses off of that and built really smart businesses, hired great people," Dumoulin reflected.According to Forbes, Dumoulin ranks No. 37 on its 2026 list of top content creators, with estimated earnings of $9.9 million."We built a huge audience… But then you've got to think a little bit bigger… We're spending so much time around wealthy entrepreneurs… So we built a marketing agency to help them build their personal brands. We launched a content consulting company, and then we launched a subscription community where every week we host live calls," he explained. "So people think that we just do interviews and we run up to people like Marcus [Lemonis] on the street. I have four businesses that are doing seven or eight figures at 24 years old."The brand's trajectory changed after Dumoulin approached Mark Cuban for a spontaneous interview. Since then, he has interviewed 70 billionaires, including Africa's richest man, Aliko Dangote, whom he recently traveled to Nigeria to interview.Dumoulin says he secures these high-profile interviews through a straightforward approach: prioritizing long-term relationships and mutual benefit over sensationalized soundbites."Take the risk or lose the chance. Had I not gone up to Mark Cuban, had I gotten hesitant and was afraid to approach him, I wouldn't have been able… [TheTopNews] Read More.3 hours ago
- This Trader Raised Alarm About Nvidia’s China Entanglements Months AgoChristian Lamarco, a 31-year-old short seller and trader, warned about financial and personal problems at Nvidia in May. [TheTopNews] Read More.3 hours ago
- SpaceX Plans $74 Billion Investment to Build Data Centers in Texas and ArizonaElon Musk’s rocket and artificial intelligence company has spent billions to develop the giant warehouses full of computer servers that power the technology. [TheTopNews] Read More.3 hours ago
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