WASHINGTON — US President Donald Trump intervened directly in Silicon Valley’s largest boardroom shakeup on Thursday, calling on former Apple chief executive Tim Cook to take command of Nvidia following the abrupt resignation of founder Jensen Huang.
The semiconductor heavyweight spiraled immediately. Nvidia shares tumbled 13.09% to $150.98 in opening trade on Thursday, dragging the company's market capitalisation below the $4 trillion mark for the first time since July 2025. Huang, who steered Nvidia into the world's preeminent artificial intelligence chipmaker, surrendered his positions as president, chief executive, and board director with immediate effect.
Trump staked his claim on Nvidia's executive succession through a public dispatch on Truth Social, declaring Cook the sole executive capable of filling Huang's shoes.
NOW THAT Nvidia CEO JENSEN HUANG, who has done a fantastic job, has resigned, there is only one man to take his place
TIM COOK of Apple. A Legend replaces a Legend!" — Donald J. Trump, US President
Trump pointed to a long working relationship with Cook, describing the longtime tech executive as "an incredible guy." That rapport formed during Trump’s first presidential term when Cook sought federal intervention on trade issues facing Apple. Cook vacated Apple's top post back in September after steering the Cupertino titan for more than a decade. He has not publicly responded to Trump’s endorsement.
Huang’s sudden exit followed a closed-door emergency session. Nvidia’s board convened on Wednesday to review Huang’s standing after two separate misconduct reports surfaced.
Both allegations struck at governance and security. One report alleged Huang maintained a personal relationship with a Chinese businesswoman suspected by US counterintelligence officials of conducting espionage for Beijing. A second inquiry examined an extramarital relationship between Huang and a senior Nvidia executive who reported directly to him. Huang chose to step aside rather than fight for his tenure.
The board praised the co-founder's multi-decade run while confirming his complete exit from corporate leadership. Huang, who founded Nvidia in 1993, retains an estimated 3.61% equity stake, keeping him as the company's fourth-largest shareholder.
"Jensen’s contributions to NVIDIA are profound," the Nvidia board said in an official statement. "NVIDIA is one of the most consequential technology companies in the world. The Board and the company thank Jensen for his immeasurable contributions to the company and the industry."
| Executive & Market Parameter | Official Corporate Status |
|---|---|
| Outgoing Chief Executive | Jensen Huang (Resigned with immediate effect) |
| Interim Chief Executive | Colette Kress (Nvidia Chief Financial Officer) |
| Huang Equity Ownership | ~3.61% (Fourth-largest individual shareholder) |
| Thursday Share Price Drop | Down 13.09% to $150.98 |
| Market Valuation Benchmark | Dropped below $4 Trillion threshold |
| Trump's Preferred Candidate | Tim Cook (Former Apple Chief Executive) |
To steady operations, the board elevated Chief Financial Officer Colette Kress to interim chief executive officer while directors launch a formal search for Huang's permanent successor. Kress faces an immediate mandate to calm institutional investors rattled by the double shock of Huang's exit and heightened geopolitical scrutiny over the reported espionage inquiries.
Market Context: Huang’s sudden ouster deprives the global semiconductor supply chain of its most influential figurehead at the peak of the artificial intelligence infrastructure boom. The vacuum at the top of Nvidia directly affects global hyperscalers and national AI strategies dependent on its specialized silicon.
Nvidia’s search committee has initiated its formal candidate review under intense scrutiny from both Wall Street and the White House, with Kress scheduled to run executive operations until a permanent chief executive is appointed.