Visitors left flowers and at least one candle at the Nvidia sign in Santa Clara on Thursday, November 12, hours after the company said co-founder Jensen Huang had resigned as its chief executive. For Nvidia Santa Clara staff, the day meant a new interim boss, an executive meeting on campus and an all-hands date the following week.
Where it stands: CFO Colette Kress is interim CEO. Nvidia says Huang resigned “effective immediately” from his roles as president, CEO and board member, and an Nvidia spokesperson said, per NBC News, that Huang “will not be working with Nvidia in any capacity going forward.”
The reasons for the exit, including reports of extramarital relationships and a disputed allegation involving a woman US officials reportedly suspect of spying for China, are covered in detail elsewhere. This story stays on the ground in the South Bay.
The scene at Nvidia Santa Clara headquarters
CNBC, citing photographs from the campus, reported that “several bouquets of flowers, and at least one candle, have been placed at Nvidia’s sign outside its corporate office in Santa Clara, California.”
Inside, the picture was mixed. A person familiar with the company told CNBC that staff were “struggling to come to grips” with the departure of their long-tenured leader. “The person described employees in tears, noting that many had come to idolize Huang and regard him as integral to Nvidia’s identity.”
The same source said the mood was “more complicated” than the headlines suggested and described “more nervous energy” around leadership, with worries that the noise could affect execution.
Kress was expected to gather the executive team at the Santa Clara headquarters that day, CNBC reported, again citing a person familiar with the plan.
What employees were told
Kress wrote to staff that “this has been an extraordinarily difficult period,” thanking them for their “resilience, professionalism and continued dedication,” according to the email CNBC published.
She also set a date. “You will hear more from leadership in the coming days about our future together, and we will host a company meeting on November 18 at 9am PT,” she wrote.
| Date | What happens |
|---|---|
| Thu., Nov. 12 | Huang resigns; Kress named interim CEO |
| Tue., Nov. 17 | Third-quarter results, about 1:20 p.m. PT; call at 2 p.m. PT |
| Wed., Nov. 18 | All-company meeting at 9 a.m. PT |
Speaking to Yahoo Finance, Unconventional AI founder Naveen Rao said Huang had helped attract much of Nvidia’s talent, and that a slow search for a new chief could erode staff confidence.
A Silicon Valley company from a Denny’s booth
Nvidia’s origin story is a local one. CNN recounted that the idea came “in 1993 from a conversation with co-founders, Curtis Priem and Chris Malachowsky, in the back of a Denny’s diner.”
Huang, 63, then led the company for more than three decades. Kress, in Nvidia’s release, spoke of “the extraordinary foundation Jensen created over the last 33 years.”
He was also a familiar figure at the company’s South Bay events. A CNBC photo caption shows him on stage “during the Nvidia GTC global AI conference in San Jose, California, March 17, 2026.”
Nvidia’s place in Santa Clara County’s chip cluster
The state Employment Development Department’s list of major employers in Santa Clara County, drawn from the “America’s Labor Market Information System (ALMIS) Employer Database, 2026 2nd Edition,” includes NVIDIA Corp in Santa Clara.
Its neighbors on that list show how concentrated the industry is. Intel, Advanced Micro Devices and Applied Materials are all listed in Santa Clara, and Super Micro Computer in San Jose. The EDD notes that a company listed in the county may have employees spread across the state.
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Several of those South Bay names moved on Thursday as investors reacted:
- Nvidia ended the session 4.34% lower, a drop CNN valued at roughly $182 billion.
- AMD rose 5.86%, among the best performers in the S&P 500 that day, per CNN.
- Intel slumped more than 4%, CNBC reported.
- Super Micro Computer fell 12% after Bloomberg reported a Justice Department inquiry into whether groups tied to Alice Huang were involved in diverting its AI hardware to China, according to CNBC. Attorney General Todd Blanche said Thursday, per CNN, that “There’s no there’s no conclusions reached by the Department of Justice or by me or by Director (Kash) Patel around who she is or is not.” China’s Ministry of Foreign Affairs called the spy allegation “groundless speculation and an attempt to smear and malign China,” CNN reported.
A San Jose courtroom and the Silicon Valley reaction
Some of the legal fallout is also local. CNBC reported on Monday, November 9, that the Rosen Law Firm had filed a proposed class action against Nvidia and Huang “in federal court in San Jose, California.” The suit alleges the company and Huang made false or misleading statements; those are allegations that no court has ruled on.
CNBC’s political read was blunt. It called the resignation “the latest setback for Silicon Valley billionaires who bet big on Trump,” coming just over a week after the November elections. Our California midterm results tracker has the state’s called races.
For Bay Area tech workers following the rules side of the AI boom, our explainer on California’s AI transparency law covers what state law already asks of AI developers.
What changes in Santa Clara next
The board says the work goes on. “The Board has full confidence in Colette and the leadership team,” chair Harvey Jones said in Nvidia’s release, adding that operations and the product roadmap should continue without interruption.
Who eventually leads the Santa Clara campus is open. The company said its board “will consider internal and external candidates” for a permanent chief, and Kress keeps the CFO title until then.
Next on the calendar is the quarterly earnings release on Tuesday, November 17, with the numbers set to land around 1:20 p.m. Pacific, followed by the all-company meeting on Wednesday morning.
Frequently Asked Questions
Where is Nvidia headquartered?
Nvidia is based in Santa Clara, California. The state Employment Development Department lists NVIDIA Corp in Santa Clara among the major employers in Santa Clara County.
Is Jensen Huang still at Nvidia?
No. Nvidia said on November 12 that Huang resigned as president, CEO and board member effective immediately, and a company spokesperson told NBC News he will not work with Nvidia in any capacity going forward.
Who is running Nvidia in Santa Clara now?
Interim CEO Colette Kress, who remains finance chief, runs the company while the board searches for a permanent chief. Harvey C. Jones is the first chair of the board.
When is the Nvidia company meeting for employees?
Kress told employees in an email published by CNBC that Nvidia will hold a company meeting on November 18 at 9 a.m. Pacific time.
Where was the Nvidia shareholder lawsuit filed?
CNBC reported that the Rosen Law Firm sued Nvidia and Huang on behalf of shareholders in the federal courthouse in San Jose, seeking class-action status. The claims are allegations and have not been decided by a court.
Sources
- NVIDIA Announces CEO Transition — NVIDIA Newsroom, November 12, 2026
- Major Employers in Santa Clara County — California Employment Development Department, Labor Market Information Division, 2026 2nd Edition (accessed November 12, 2026)
- Nvidia CEO Jensen Huang resigns: Live updates — CNBC, November 12, 2026
- Here’s what Nvidia interim CEO Colette Kress and board chair Harvey Jones wrote to Nvidia employees — CNBC, November 12, 2026
- Jensen Huang resigns as Nvidia CEO amid affair allegations: Live updates — CNN, November 12, 2026
- Trump: Nvidia CEO Jensen Huang denied knowing Alice Huang was spy — CNBC, November 9, 2026
- Nvidia CEO Jensen Huang resigns after reports of affair and extramarital relationships — NBC News, November 12, 2026
- What we know about Alice Huang, the alleged spy at the center of the Nvidia scandal — CNN, November 10, 2026
- Nvidia live updates: Following Jensen Huang’s resignation as CEO, allegations of a third affair emerge — Yahoo Finance, November 12, 2026
This article is news reporting and analysis based on the public sources listed above, as they stood on the dates shown. Where officials, lawmakers or analysts disagree, including on whether an action is lawful, their positions are attributed to them; California News Now is not a court and nothing here is legal advice. Facts in a developing story can change.