SAN FRANCISCO — NVIDIA, the leading big tech powerhouse that fueled the global artificial intelligence (AI) boom, is facing its greatest-ever corporate crisis following a scandal surrounding its founder and Chief Executive Officer, Jensen Huang.

Known for his charismatic leadership and relentless drive, Huang has long been regarded as one of the most influential figures in the tech industry. His towering presence, however, has created a double-edged sword: the company's 33-year history as a centralized "one-man show" has left it deeply vulnerable to his sudden absence.

The Perils of a 33-Year "One-Man" Rule

Since founding NVIDIA in 1993, Huang has maintained absolute control over the company's operations. According to former executives cited by The New York Times, internal calls for a succession plan were raised over the years, but consistently rejected by Huang, who reportedly feared that grooming a successor could foster internal rivalries and division among top management.

Rather than utilizing a traditional hierarchical reporting structure, Huang personally oversaw approximately 60 executives who reported directly to him, centralizing all core decision-making in his own hands. This unique management structure prevented a natural "number two" from emerging, leaving the company without a clear playbook for leadership transition.

Potential Successors and Internal Contenders

As speculation mounts over who could take the helm if Huang departs, a few internal figures have emerged as potential crisis managers.

Colette Kress: NVIDIA’s Chief Financial Officer of 13 years, Kress is widely viewed as a stabilizing force. Her extensive experience managing finance and investor relations has led some board members to support her as a potential interim leader to calm both internal staff and jittery markets, according to the online news outlet Semafor.
Ian Buck: The driving force behind CUDA, NVIDIA’s foundational software platform, is also mentioned as a candidate capable of steering future technological innovation.
Chris Malachowsky: As a co-founder alongside Huang, Malachowsky carries significant symbolic weight, though questions remain over whether these figures possess the experience required to run a mega-cap enterprise.

Meanwhile, members of Huang’s immediate family—including his daughter Madison, son-in-law Nico Caprez, and son Spencer—have taken on prominent roles amid the AI rush. However, market observers remain skeptical about their readiness to lead, and Huang himself previously noted that if his children aspire to the top roles, they would have to earn them strictly on their own merits.

External Candidates and Structural Uncertainty

To bridge the gap, industry watchers have floated several external names. These include Lisa Su (CEO of AMD) and Rene Haas (CEO of Arm), both lauded for leading rival semiconductor giants through high-stakes market competition. Other veterans frequently mentioned include former Google CEO Eric Schmidt and Apple’s top hardware executive, Johny Srouji.

Regardless of who eventually takes command, analysts warn that NVIDIA faces a turbulent structural transformation. Jon Bathgate, a fund manager at NZS Capital, pointed out earlier this year that investors must confront "key-person risk." Without Huang, NVIDIA would inevitably need to transition into a more conventional corporate organization, introducing a new layer of uncertainty into its future.

Market Impact and Plunging Valuation

This governance uncertainty has taken an immediate toll on Wall Street. While NVIDIA shares closed up 2.9% at $173.73 in regular trading, they plummeted 8.6% to $158.78 in after-hours trading—falling below its previous 2026 low of $164.79 recorded on March 30.

The sharp sell-off dropped NVIDIA’s market capitalization to approximately $3.83 trillion, sliding it to third place globally behind Apple and Microsoft. Over the past week alone, NVIDIA’s stock has slumped 14.9%, wiping out roughly $673 billion in market value. Compared to its all-time high of $239.24 on October 6, the company has shed 33.6% of its value in just over a month, translating to a staggering reduction of nearly $1.94 trillion in market capitalization.

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