• Trump says Apple (NASDAQ:AAPL)'s Tim Cook should replace Jensen Huang as Nvidia (NASDAQ:NVDA) CEO, according to a breaking-news report; Nvidia's board is conducting its own search and has not named Cook a candidate.
  • Nvidia announced that Jensen Huang has resigned as president, CEO, and board member, effective immediately, ending 33 years of leadership.
  • CFO Colette Kress has been appointed interim CEO while the board searches for a permanent successor; Harvey C. Jones was named first-ever chair.
  • The resignation follows reporting on Huang's personal relationships and an investigation into whether he was targeted by a foreign intelligence operation; Nvidia has previously said it had no reason to believe national security or company secrets were compromised.

Trump Suggests Tim Cook for Nvidia CEO

President Trump said that Apple's Tim Cook should replace Jensen Huang as Nvidia's CEO, according to a breaking-news report. The remark, reported at 10:30 a.m. EST, is a presidential suggestion and does not determine Nvidia's succession decision. The board has not appointed Cook, and Nvidia's announcement did not identify him as a candidate. Cook stepped down as Apple's CEO in September, with John Ternus succeeding him; Cook's announced new role was executive chairman.

The reported recommendation adds political attention to a board-led search that Nvidia says will consider both internal and external candidates. It also contrasts with Trump's earlier public support for Huang, whom Trump had defended by saying Huang told him he did not know the woman at the center of the investigation was allegedly a spy.

Leadership Shakeup at Nvidia

Nvidia stunned the technology and financial worlds on Thursday with the announcement that co-founder and longtime CEO Jensen Huang has resigned, effective immediately. The move ends a 33-year tenure during which Huang built the company into the dominant supplier of artificial-intelligence chips and one of the most valuable corporations on the planet. The board of directors has appointed Colette Kress, currently chief financial officer, as interim CEO. Kress will retain her CFO duties while leading the company. The board also named Harvey C. Jones as its first-ever chair and said it will consider both internal and external candidates for a permanent CEO.

The resignation follows a period of intense scrutiny over Huang's personal relationships and an investigation into whether he was the target of a foreign intelligence operation. Nvidia has previously stated that it had no reason to believe any national security secrets or company secrets were compromised. However, the controversy has cast a shadow over the company's leadership. According to people familiar with the matter, the board decided that a change at the top was necessary to restore confidence and allow the company to focus on its operations.

Business Fundamentals Remain Strong

Despite the leadership turmoil, Nvidia's financial performance remains exceptional. For the second quarter of fiscal 2027, the company reported revenue of $96.2 billion, up 106% year over year, driven by data-center revenue of $89.0 billion. GAAP net income surged 126% to $59.7 billion, or $2.46 per diluted share. Gross margin stood at a robust 75.0%. The company also guided third-quarter revenue to $108 billion, plus or minus 2%, a forecast that assumes no data-center compute revenue from China. Third-quarter results are scheduled for November 17.

"The board expects that customer commitments, operations, and the product roadmap will continue without interruption," Nvidia said in a statement. The company has not disclosed any layoffs, a breakup, or a broader restructuring.

Market Reaction and Analyst Views

Shares of Nvidia fell roughly 10% in premarket trading following the announcement, according to Yahoo Finance. The decline reflects concerns about replacing a founder who was deeply involved in strategy and product development. Analysts are divided on the implications. Raymond James (NYSE:RJF) analyst Simon Leopold argued that Nvidia is "more than just its CEO" and that the controversy need not change the business fundamentals. Oppenheimer (NYSE:OPY), however, warned that the departure could be a potentially investment-thesis-changing event because of Huang's strategic importance. Stifel (NYSE:SF) analyst Ruben Roy emphasized that how the transition is executed will be crucial.

Political and International Context

The resignation also comes amid heightened political scrutiny. Senators Elizabeth Warren and Chris Coons have requested the preservation of administration records concerning Nvidia, Huang, and China-related chip exports. Republican House committee leaders have sought Huang's appearance at a closed hearing and discussed a potential subpoena. Beijing has denied allegations that a woman at the center of the investigation was a spy. President Trump had previously defended Huang, saying that Huang told him he did not know the woman was allegedly a spy.

The controversy touches on the broader issue of advanced-chip export controls and protection of sensitive technology. Nvidia's exclusion of China data-center compute revenue from its guidance illustrates the commercial significance of access to that market. It does not, by itself, establish any violation.

Succession Speculation and Historical Parallels

Speculation about a permanent successor has included names such as Apple's Tim Cook, though Nvidia's announcement did not mention Cook as a candidate. Cook, who stepped down as Apple's CEO in August, has been cited in succession discussions, but the board's search is still in its early stages. Analysts note that Nvidia had not publicly identified a successor to Huang, unlike Apple's well-prepared transition from Steve Jobs to Tim Cook. Huang's hands-on role, with approximately 60 direct reports, makes the transition particularly challenging.

What's Next

The immediate focus is on the November 17 earnings release, where management's demand outlook and the permanent-CEO search will be key topics. The board's new chair and interim leadership provide a governance structure, but the success of the transition remains to be demonstrated. Employees, customers, and shareholders will be watching closely for signs of continuity and stability. As one analyst put it, "The question is not whether Nvidia can survive without Huang, but how well it can execute during the transition."