Nvidia founder exits after 33 years, leaving Kress and the AI trade under scrutiny

Nvidia began its first full day under interim chief executive Colette Kress on Friday, November 13, one day after co-founder Jensen Huang resigned and ended a 33-year tenure at the company he built. Kress, Nvidia’s longtime finance chief, is now overseeing its first leadership transition in more than three decades, according to 99Bitcoins and Decrypt. Multiple outlets describe the appointment as a temporary arrangement while the board searches for a permanent replacement.

The leadership vacuum has already prompted several responses. Bitcoin World says the board was preparing to consider Huang’s future, while Decrypt reports that it has approached Arm’s chief executive as a possible replacement and that some employees want Huang to return. TronWeekly says Elon Musk backed a petition seeking his reinstatement, which had gathered more than 50,000 signatures. Separately, 99Bitcoins reports that Congress wants Huang to testify and notes an investigation by Nvidia’s board into his conduct.

Cross-outlet reporting supports the core sequence but highlights different angles and unverified allegations. 99Bitcoins, Decrypt and TronWeekly agree on Huang’s resignation, Kress’s interim role and the 33-year span of his tenure; Bitcoin World and Decrypt likewise describe the board’s continuing leadership process. Bitcoin World and CoinCodex both cite an 8% figure, although Bitcoin World is more precise: Binance’s NVDAUSDT perpetual futures fell more than 8% below Nvidia’s US cash close. Decrypt alone raises reports of affairs and suspected Chinese intelligence ties, which remain attributed claims rather than independently established findings.

Market reactions reached beyond Nvidia itself. Decrypt reports that Nvidia shares tumbled after Huang’s exit while AMD and Broadcom advanced and Nvidia-backed CoreWeave declined. That divergence made the leadership news a test of positioning across the AI supply chain. Finbold interpreted Nvidia’s plunge as a possible long-term buying opportunity, while CryptoPotato emphasized that Nvidia’s influence on AI and US equities means the immediate company risk could extend across wider markets.

The wider data backdrop was risk-off. Total crypto market capitalization stood at $2.24 trillion as the broader market broadly declined, while the Fear & Greed Index registered 13, classified as Extreme Fear. Bitcoin traded at $64,652, down 5.64% over 24 hours and 14.37% over seven days, with a $1.3 trillion market capitalization. The available market data does not establish that Nvidia’s leadership news caused Bitcoin’s decline, but it shows that crypto was already under pressure during the period.

The next focus is the board’s search and the strength of the reactions surrounding Huang. Kress’s tenure, any approach to Arm’s chief executive, the employee petition and congressional scrutiny could shape whether the transition is presented as an orderly succession or a prolonged leadership test. For crypto-linked Nvidia exposure, the roughly 8% discount reported for NVDAUSDT futures provides a market-specific reference point alongside the stock and AI-peer moves. The significance will depend on how those conditions develop, not on a predetermined price outcome.