The internal tension peaked during an August meeting when Jensen Huang interrupted Colette Kress's presentation, characterizing her as a reporting CFO rather than a strategic leader. Kress had pushed back against risky customer financing, successfully intervening to cut Nvidia's financial backing for an OpenAI-linked data center in Ohio by half. Nvidia eventually paused some financing agreements amid growing scrutiny from senior leaders and its board. Now serving as interim CEO following Huang's resignation, Kress is guiding the company while the board evaluates internal and external candidates.
Key points
Disagreements over aggressive customer-financing deals led by Nico Caprez created substan…: Disagreements over aggressive customer-financing deals led by Nico Caprez created substantial friction among Nvidia's top leadership.
Colette Kress stepped into the interim chief executive role despite previous strategic cl…: Colette Kress stepped into the interim chief executive role despite previous strategic clashes with Jensen Huang.
Nvidia is currently searching for a permanent chief executive by considering both interna…: Nvidia is currently searching for a permanent chief executive by considering both internal and external prospects.
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Jensen Huang reportedly criticised Nvidia’s new CEO Colette Kress during an August meeting. Months before she succeeded him as Nvidia’s interim chief executive, Huang questioned her ability to help shape strategy as the company considered billions of dollars in financial guarantees for customers, a Wall Street Journal report claimed, citing people familiar with the discussions.
Kress was a “reporting CFO,” not someone who could help him define a strategy or make decisions, Huang reportedly said at the meeting. He also described her as “a deer in the headlights,” interrupting her presentation. The meeting concerned Nvidia’s growing financial commitments to companies buying its chips, placing Kress at the centre of questions about how much risk the chipmaker should accept to support future sales.
What prompted Jensen Huang’s criticism of Colette Kress
Huang had summoned Kress and senior finance executives to examine Nvidia’s plans to back companies that could not afford its chips without financial support. The proposed guarantees would help cloud providers and data-centre developers borrow money, potentially turning them into long-term Nvidia customers. Some deals were led by Huang’s son-in-law,…
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