Colette Kress takes over Nvidia as interim chief

Colette Kress, Nvidia's longtime finance chief, is serving as the company's interim CEO. She steps into the role following the abrupt departure of founder Jensen Huang. Huang led the chipmaker for 33 years before leaving the helm.

Huang played a central role in funding the rise of artificial intelligence. He directed capital toward major AI firms such as OpenAI, Anthropic, and CoreWeave. These companies used Nvidia's investments to purchase its processing chips. This practice, known as circular financing, has drawn scrutiny. Gary Marcus, a cognitive scientist, described the arrangement as Nvidia acting like a bank that backstops the industry. Many of these AI businesses have yet to turn a profit.

Marcus noted that Huang was willing to make large financial bets of arbitrary size. Kress brings a different background to the leadership position. Her experience in finance suggests a more cautious approach to future investments. This shift may change how Nvidia supports the wider AI ecosystem. Kress must also manage ongoing legal and regulatory issues. Potential federal and congressional investigations are examining Nvidia's business dealings with China.

Lawmakers are seeking answers regarding information shared between Huang and Alice Huang. They are also asking why Commerce Secretary Howard Lutnick did not intervene earlier in these matters. Marcus stated that Kress must clean up the mess left behind by the previous administration. He specifically questioned why Lutnick did not shut down parts of the deal when asked to do so. The leadership transition occurs during a turbulent week for the tech sector. Reports of personal scandals and intelligence concerns have compounded the uncertainty surrounding the company's future direction.