‘Deer in the headlights’: How ex-Nvidia CEO Jensen Huang reacted when successor Colette Kress questioned his AI bets

Nvidia, the world's leading supplier of AI computing chips, which has practically transformed AI, has found itself in a challenging position after its founder, Jensen Huang, admitted to being unfaithful to his wife and family following revelations about his alleged relationship with Alice Huang, a suspected Chinese spy. Reports also linked him to Nvidia executive Kimberly Powell and another unnamed company employee. On November 12, Nvidia announced that Huang had resigned as president, CEO, and board member with immediate effect, appointing longtime CFO Colette Kress as interim CEO.

Colette Kress had a difficult relationship with former chief Jensen Huang in the months leading up to the leadership change, according to a report by The Wall Street Journal, when she reportedly questioned some of Huang's ambitious financial deals with artificial intelligence companies, raising concerns about the risks Nvidia was taking to expand its business.

During an August meeting with senior finance executives, Huang reportedly interrupted Kress's presentation and described her as “a deer in the headlights”. He also called her a “reporting CFO” and questioned her ability to contribute to major business decisions and shape Nvidia's broader strategy.


The disagreement centred on Nvidia's growing willingness to financially support companies buying its processors. According to the WSJ, Huang's son-in-law, Nico Caprez, and vice-president Raj Mirpuri had been offering credit-support arrangements to emerging cloud computing and data-centre companies. Kress reportedly questioned how Nvidia would assess these guarantees, measure potential returns and decide which businesses deserved backing.

One of the biggest examples involved OpenAI's proposed data-centre project in Ohio. Nvidia had considered a $250 billion financial backstop, but the arrangement was subsequently reduced. Reuters reported that the proposed commitment was pared to less than $120 billion.

Who is Colette Kress?

Kress, 59, joined Nvidia in September 2013 after spending nearly 25 years in finance positions at companies including Microsoft, Cisco and Texas Instruments. She holds an undergraduate degree in finance and an MBA. Her tenure coincided with Nvidia's transformation into a central supplier of the hardware powering the artificial intelligence industry.

On November 12, Nvidia announced that Huang had resigned. Kress was appointed interim CEO while the board searches for a permanent successor. She will retain her CFO responsibilities during the transition.

“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,” said Kress in her statement on Thursday. “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.”

Her immediate challenge, however, extends beyond maintaining Nvidia's technological momentum. Reuters reported that Nvidia shares initially fell 12% following the leadership announcement before closing 4.3% lower.