Nvidia founder Jensen Huang steps down as CEO

The CEO of the American company Nvidia, Jensen Huang, is stepping down. CFO Colette Kress will temporarily lead one of the world’s largest manufacturers of artificial intelligence chips.

This was reported by Channel NewsAsia, citing a company statement dated November 12.

Huang is also leaving Nvidia’s board, according to the publication. He was at the company’s founding and remains its fourth-largest shareholder with a stake of about 3.61%.

While the company searches for a new permanent CEO, Colette Kress, who is currently responsible for Nvidia’s finances, will serve as interim CEO.

Huang’s departure could be a major shake-up for the tech market. It was under his leadership that Nvidia became a major maker of artificial intelligence chips, with a market value of $4 trillion.

As Channel NewsAsia notes, the leadership change comes at a challenging time for technology companies, with investors increasingly concerned about the huge costs of developing artificial intelligence and the growing debt of large corporations.

Huang’s resignation could also affect Nvidia’s stance on U.S. restrictions on the sale of advanced chips to China. Huang has advocated for the company to retain access to the Chinese market.