The rift between former Chief Executive Officer Jensen Huang and interim successor Collette Kress deepened over corporate risk management regarding data center financing. Kress specifically pushed back on credit-based transactions, including seeking clarity on deals involving Huang's son-in-law, Nico Caprez. She also significantly scaled down Nvidia's planned credit backing for OpenAI's Ohio data center project from $250 billion to $105 billion. Meanwhile, Nvidia is conducting an active search for a permanent chief executive following Huang's sudden resignation after 33 years at the helm.
Key points
Disagreements between Jensen Huang and interim leader Collette Kress centered heavily on…: Disagreements between Jensen Huang and interim leader Collette Kress centered heavily on the oversight of multi-billion-dollar financing guarantees for data centers.
Nvidia is currently searching for a permanent chief executive officer to succeed Jensen H…: Nvidia is currently searching for a permanent chief executive officer to succeed Jensen Huang following his 33-year tenure.
Sources checked by our analysis pipeline: 1
Former NVIDIA CEO Jensen Huang described Collette Kress, the company’s CFO who has now replaced him as interim CEO, as “a deer in the headlights” during a presentation earlier in the summer, the Wall Street Journal reported, citing an anonymous source.
Huang made the comment during a meeting with Nvidia’s finance team about the company’s plans to provide guarantees worth billions of dollars to data center operators that couldn’t afford to buy its chips upfront, according to the report.
He reportedly also said Kress was a person who couldn’t help him steer strategy or decision-making.
Kress has been with Nvidia for over 13 years now, after serving as SVP and CFO of Cisco’s Business Technology Operations Finance. The report said she has questioned Nvidia’s program-focused, credit-based deals involving Huang’s son-in-law Nico Caprez, and wanted to know how to decide which deals are beneficial, how to value guarantees, and determine returns.
Earlier in the year, she had scaled back on Nvidia’s commitment for OpenAI’s ambitious Ohio data center project. The company was in talks to provide $250 billion in credit to…
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