Washington, November 2026 : US President Donald Trump has publicly backed Apple executive chairman Tim Cook to succeed Jensen Huang as chief executive of semiconductor giant Nvidia, intervening in the company's leadership transition as lawmakers intensify scrutiny over allegations concerning national security and the export of advanced artificial intelligence chips to China.
“Now that Nvidia CEO Jens Huang, who has done a fantastic job, has resigned, there is only one man to take his place - Tim Cook of Apple. A Legend replaces a Legend!” Trump wrote on his social media platform Truth Social on Thursday.
Trump's endorsement came after Nvidia announced that its board had accepted Huang's resignation and appointed Chief Financial Officer Colette Kress as interim chief executive. However, the President's post did not indicate whether Cook was interested in the position or whether he had held discussions with Nvidia about taking over the company's leadership.
Nvidia said its board had begun the process of identifying a permanent CEO and would consider both internal and external candidates. Trump's post did not refer to the allegations raised by US lawmakers or mention Kress, who has taken charge on an interim basis.
Nvidia Confirms Jensen Huang's Resignation
According to a filing submitted to the US Securities and Exchange Commission (SEC), Nvidia's board accepted Huang's resignation as president, chief executive officer and director on November 11, with immediate effect. The company announced the leadership change on Thursday.
Neither the regulatory filing nor Nvidia's announcement specified the reason for Huang's departure or included a statement from the former CEO.
Kress, 59, will continue to serve as Nvidia's executive vice president and chief financial officer while taking on the responsibilities of interim chief executive. The company has also appointed longtime board member Harvey C. Jones as its first board chair. Jones has served as a director since 1993, while Kress has held the position of executive vice president and CFO since 2013.
US Lawmakers Demand Answers Over China Chip Sales
Huang's departure has triggered sharply different reactions in Washington, with lawmakers calling for greater accountability from Nvidia over its business practices and the possible implications of advanced semiconductor exports to China.
John Moolenaar, a Republican from Michigan and chairman of the House Select Committee on China, said the United States had a national interest in ensuring the success of Nvidia and other leading artificial intelligence companies. However, he stressed that American firms should not compromise national security by allowing Chinese companies access to their most advanced chips.
Moolenaar called for changes in Nvidia's corporate practices and stronger export controls. He also urged Congress to include bipartisan export-control legislation in the year-end national defence bill.
Describing Huang's departure as a "firing", Moolenaar's remarks contrasted with Nvidia's regulatory filing, which stated that the board had accepted Huang's resignation.
Senate Democratic Leader Chuck Schumer also said Huang's exit should not bring congressional scrutiny of Nvidia or the administration to an end.
“Despite Jensen Huang's resignation, Congress must demand answers from Mr. Huang and others at Nvidia about how they may have put U.S. national security at risk,” Schumer wrote on X.
Schumer further sought clarification about what the administration knew regarding an alleged relationship between Huang and a suspected Chinese intelligence asset. He also questioned whether Huang's relationship with Trump had influenced any investigation into the matter.
These allegations were not addressed in Nvidia's resignation announcement or its SEC filing. Neither document identified any individual in connection with the claims, and Trump did not refer to them in his endorsement of Cook.
Nvidia Shares Fall Ahead of Quarterly Results
The leadership change and continuing scrutiny weighed on Nvidia shares during Thursday's trading session.
According to Nasdaq, the company's stock was trading at $165.38 at 11:51 a.m. Eastern Time, down approximately 4.8 per cent from Wednesday's closing price. Earlier in the session, shares had fallen to $148.80, a decline of around 14.3 per cent from the previous close.
Despite the market volatility, Nvidia confirmed that it would announce its third-quarter fiscal 2027 financial results on November 17 as scheduled. Investors are expected to closely monitor the company's performance and outlook amid concerns over AI chip demand, export restrictions and the future direction of its leadership.
Tim Cook's Possible Role at Nvidia
Cook became Apple's chief executive in 2011 and moved to the position of executive chairman on September 1, when John Ternus took over as CEO. Apple's announcement in April said Cook would continue to assist with selected aspects of the business, including engagement with policymakers around the world.
Trump's endorsement has brought Cook's name into the discussion over Nvidia's leadership succession. However, there has been no indication from Apple or Nvidia that Cook is being considered for the position or has expressed interest in taking it up.
With Kress overseeing Nvidia on an interim basis and the board beginning its search for a permanent successor, the company faces a significant leadership transition at a time of heightened attention on artificial intelligence, semiconductor exports and US national security.
