• Arm (NASDAQ:ARM) CEO Rene Haas has been approached in Nvidia (NASDAQ:NVDA)'s search for a successor to Jensen Huang, according to the Financial Times.
  • Ian Buck remains the prediction-market favorite to succeed Huang, with interim CEO Colette Kress falling to 13%.
  • Nvidia has not named a permanent CEO or shortlist; Kress continues as interim while retaining CFO duties.

Haas Approach

Arm CEO Rene Haas has been approached in Nvidia's search for a successor to Jensen Huang, according to the Financial Times. Haas has led SoftBank (TSE:9984)-backed Arm since 2022 and previously spent approximately seven years at Nvidia, maintaining close ties with Huang and board members. He worked at Nvidia from 2006 to 2013 before joining Arm, combining public-company leadership with familiarity with Nvidia, though analysts note today's Nvidia is substantially more complex than the business he left. Haas is one of several candidates under consideration, with no guarantee of an offer or acceptance. An approach does not mean Haas has accepted, entered final negotiations, or been selected; Nvidia's official announcement names no permanent successor and says it will consider internal and external candidates. Colette Kress remains Nvidia's interim CEO as the board searches for a permanent successor. The report follows Huang's resignation on November 12, when CFO Colette Kress became interim CEO while retaining her finance responsibilities.

Buck Gains Traction

Following Jensen Huang's abrupt resignation on November 12, Nvidia executive Ian Buck has pulled ahead in prediction markets, with traders assigning a 33% probability to his becoming the next permanent CEO, according to a snapshot of betting odds. Interim CEO Colette Kress has seen her odds fall to 13%, tying with Arm CEO Rene Haas. The shift suggests traders favor an internal technology executive over the current interim chief, though no permanent successor has been announced.

Buck, who helped create Nvidia's CUDA software platform and leads its hyperscale business, has drawn support from analysts who see him as the strongest long-term internal candidate. "His technical credentials explain analyst support; they do not establish board preference," cautioned one market observer. Indeed, prediction markets are not board decisions, and trading volume in the succession market remains small, according to Reuters (NASDAQ:TRI). Other platforms show slightly different figures—Polymarket odds put Buck at 29%, Kress at 14%, and Haas at 13%—but the consistent signal is Buck's prominence.

Kress, CFO since 2013, has the board's explicit confidence as interim leader, but her dual role may be seen as a temporary fix. The board appointed Harvey C. Jones as its first-ever board chair, a governance change that adds a layer of oversight. Nvidia has said it will consider both internal and external candidates, though no timetable has been disclosed.

Strong Fundamentals Amid Turmoil

The succession crisis unfolds against a backdrop of exceptional financial performance. Nvidia's latest reported results for the second quarter of fiscal 2027, ended July 26, showed revenue of $96.2 billion, up 18% quarter over quarter and 106% year over year. GAAP net income surged 126% to $59.7 billion, with gross margin expanding to 75.0% from 72.4% a year earlier. The company, valued at roughly $4 trillion, employs more than 40,000 people worldwide.

Despite the strong numbers, shares fell 4.34% on November 12, erasing about $182 billion in market value, as investors digested the implications of Huang's departure. The Nasdaq Composite and S&P 500 also closed lower. The next earnings release on November 17 will be a key test for management to address business continuity and the leadership transition.

Investigation and Global Fallout

The leadership shake-up follows an independent investigation into reports that Huang had been targeted by a foreign intelligence effort. The board said it had "no reason to believe" national security or company secrets had been compromised. Huang resigned after reports about personal relationships, including one involving a woman suspected by U.S. authorities of spying for China—allegations that remain unproven.

Internationally, Chinese AI stocks fell on November 13 amid concern that Huang's departure could further restrict access to advanced American chips. Nvidia's B200 and B300 chips cannot legally be exported to China, and the company's outlook assumes no data-center compute revenue from that market. Huang had advocated preserving Chinese access to American technology, but congressional support for tighter export restrictions is growing, according to House Speaker Mike Johnson.

As Nvidia navigates this transition, the focus remains on execution: maintaining product delivery and infrastructure expansion while changing leadership. The board insists operations and customer commitments will continue uninterrupted, but the coming weeks will reveal whether the company can steady the ship.