Nvidia after Jensen Huang: the live timeline

Live timeline. Last updated 7:25 p.m. ET, Friday, November 13. Newest first; times are Eastern.

How often we update: we check for news every hour, around the clock, and add entries as material developments break. The stock chart refreshes once a day after the close. We will wrap up coverage once Nvidia names a permanent CEO and the news quiets down.

In two weeks, Jensen Huang went from Nvidia's founder-CEO to ousted. Reports tied him to Alice Huang, a Megaspeed executive US officials believe works for Chinese intelligence, and then to affairs with Nvidia employees. CFO Colette Kress is interim CEO, and the fallout has reached the Commerce Department, the Treasury and Congress.

At a glance

• CEO: Kress (interim). The board says it has not formally engaged any candidates.
• Stock: $162.85, down 25.3% from $217.94 on October 27, two days before the first report. Market value has fallen from about $5.8 trillion in early October to $3.9 trillion (Reuters).
• Probes: the board's own, a securities class action, DOJ antitrust, and hearings in Congress.
• Next: earnings Tuesday, November 17.

NVDA stock

Nov. 13

• 5:43 p.m. · Startups brace for smaller Nvidia checks. Founders and VCs expect lower valuations without Huang, who poured tens of billions into AI startups. (TechCrunch).
• 5:40 p.m. · Nvidia's vanishing Singapore sales. Singapore was officially one of Nvidia's biggest markets, 22% of revenue as recently as summer 2025, then practically disappeared from its financial disclosures, deepening questions about Megaspeed (WSJ).
• 5:11 p.m. · Huang's $140 billion stake sits in family trusts. The shares are largely held in trusts co-owned with his wife, Lori. (CNBC).
• 5:00 p.m. · Neocloud lifelines in question. Nvidia has guaranteed nearly $20 billion in Lambda leases and agreed to buy CoreWeave's unsold capacity. (The Information).
• 4:13 p.m. · Board probe continues after the exit. Independent directors retained former acting SDNY US Attorney Joon H. Kim and Wachtell, Lipton, Rosen & Katz. (Nvidia).
• 4:05 p.m. · Musk backs a petition to reinstate Huang. He says he will sign it. (Reuters).
• 4:05 p.m. · How officials learned it was Huang. US officials asked for the American in raw intelligence to be "unmasked," revealing Huang, CNN reports. (via Carl Quintanilla).
• 4:00 p.m. · Closing bell: $162.85. Down 2% on the day and 12.75% on the week, the sixth straight weekly loss and the longest streak since October 2012. (Reuters).
• 3:39 p.m. · Nvidia breaks its silence on X. Its first post since the resignation unveils the GR00T 2 robotics model. (Polymarket).
• 3:34 p.m. · Nvidia's top lawyer leaned on Trump's name with regulators. In January the general counsel told more than a dozen officials drafting export rules what Trump and Huang wanted, a Semafor investigation found (Semafor).
• 2:52 p.m. · Trump's Nvidia stock purchase scrutinized. Disclosures show he bought $1 million to $5 million of shares days before rescinding the Biden-era chip diffusion rule. (The Guardian).
• 2:18 p.m. · Board: no candidates engaged yet. "We are in the process of selecting a search firm." (CNBC).
• 2:04 p.m. · Huang hires Paul Weiss. He turned to the law firm that struck a deal with Trump last year (Reuters).
• 12:16 p.m. · Singapore held Alice Huang's passport for eight months. It got little help from the US on its chip probe, sources say. (CBS News).
• 11:53 a.m. · First outside candidate surfaces: Arm's Rene Haas. The FT says the board approached him. Reuters could not verify it, and there is no guarantee of an offer. (Reuters).
• 10:50 a.m. · HSBC downgrades to hold. Target cut to $170 from $365 until a permanent CEO is named. (CNBC).
• 10:13 a.m. · Lutnick agrees to testify December 10. Before the Senate Banking Committee, on export controls. (CBS News).
• 10:04 a.m. · Bessent: "Commerce has the pen". Treasury, the Pentagon, State and USTR wanted Megaspeed blacklisted for months. (Reuters). He also asked whether Nvidia was selling to "obviously pass-through shell companies" (Yahoo Finance).
• 8:09 a.m. · Smuggled chips traced to a Shanghai data center. A firm Alice Huang founded procured them for a Megaspeed-linked site. One source says the servers first went to Aperia, an official Nvidia Cloud Partner. (Bloomberg).

Nov. 12

• 10:10 p.m. · Senate Banking asks Huang and Lutnick to testify. Chair Tim Scott requested a public hearing on December 3. (Reuters).
• 10:06 p.m. · Malaysia disowns Megaspeed's affiliate. Its trade ministry says it never authorized Megaspeed or Speedmatrix, and customs is reviewing possible re-exports. (First Squawk).
• 9:57 p.m. · Huang once called Kress "a deer in the headlights". At an August meeting on customer guarantees, the WSJ reports. Some of those deals involved his son-in-law, VP Nico Caprez. (WSJ).
• 9:50 p.m. · Speaker Johnson sees consensus on chip curbs. He says Congress is converging on limits to China exports. (Reuters).
• 8:43 p.m. · Alibaba financing link to Megaspeed traced. Corporate records tie Alibaba to Megaspeed through Singapore and Malaysia units. (The Business Times).
• 7:28 p.m. · Trump had urged Huang to "fight for his job". Two days before the board ousted him, the NYT reports. (Reuters).
• 5:33 p.m. · $500 billion financing platform has closed no deals. Partners want a bigger backstop. (Bloomberg via Carl Quintanilla).
• 5:32 p.m. · Blackwell "fingerprints" found in Chinese models. Forensic analysis of DeepSeek, Moonshot, MiniMax and Ant models. It does not show how the chips were obtained. (Unemployment Labs) (single source).
• 3:30 p.m. · A cloud customer weighs Google and AMD. It had held off for fear of offending Huang. (The Information) (single source).
• 3:08 p.m. · $10 billion Anthropic IPO pledge in question. Nvidia agreed to buy about $10 billion of a $26 billion private placement alongside the IPO. (Bloomberg).
• 3:02 p.m. · A third alleged relationship. Reuters reports Huang had an intimate relationship with another employee. (Reuters) (single source).
• 2:45 p.m. · Litong moved 240,000 chips into China. Companies tied to Alice Huang imported Nvidia chips worth at least $7.5 billion since 2023 despite export controls. (The Information).
• 2:00 p.m. · Kress sets an all-hands for November 18. The day after earnings, at noon ET. (via @DeItaone).
• 1:57 p.m. · Jeffries promises a Democratic probe. Incoming Democratic committee chairs will investigate from January. (Reuters).
• 11:28 a.m. · DOJ antitrust probe reported. Semafor says there is no indication the DOJ seeks to charge Huang criminally. (via ZeroHedge).
• 11:18 a.m. · Kress pushed back on a $250 billion OpenAI backstop. Huang had championed it. (The Information) (single source).
• 11:01 a.m. · Huang agrees to testify. A Republican lawmaker says. (via @DeItaone).
• 10:45 a.m. · DeepSeek staff pitched Litong as a black-market supplier. The firms won a slot in DeepSeek's $15.8 billion round. (The Information).
• 9:56 a.m. · Wave of downgrades. Bernstein (target $200 from $400), Oppenheimer, William Blair and Evercore ISI cut ratings. (Unusual Whales).
• 8:50 a.m. · Huang resigns, effective immediately. CFO Colette Kress becomes interim CEO and stays CFO. Harvey C. Jones is the board's first chair. The search covers internal and external candidates. Shares fell as much as 14% before closing down 4.3% at $166.19. (Nvidia).

Nov. 11

• 10:27 p.m. · Commerce finalizing chip access rules. A rule to block Chinese remote access to chips abroad, and licenses for Blackwell-class chips into Singapore, Malaysia, Thailand, Indonesia, Brazil, Norway and South Africa. (Chosun Biz).
• 9:36 p.m. · Alice Huang is back in Beijing. Bloomberg reports. (via Unusual Whales).
• 5:28 p.m. · WSJ: board preparing to oust Huang. (Reuters).
• Evening · Second affair reported. The NYT reports a relationship with Kimberly Powell, Nvidia's VP of health care, who reported to Huang. (Reuters).
• 4:12 p.m. · Trump authorized a diversion crackdown. Axios reports Lutnick stalled it. (Reuters).
• 10:30 a.m. · White House asks Congress to force a remote-access rule. A loophole Nvidia lobbied to keep open. (The Information).
• 10:17 a.m. · Bessent confronts Lutnick. Over why Megaspeed was not on the Entity List. (via @DeItaone).
• 6:41 a.m. · Baird cuts target to $200 from $500. (via @DeItaone).

Nov. 10

• 6:49 p.m. · Lutnick was sent the classified memo. Axios reports. (Axios).
• 4:00 p.m. · Independent directors hire Wachtell Lipton. (Bloomberg).
• 3:30 p.m. · Century Litong became a preferred Nvidia cloud partner. Some of the 240,000 banned chips reached data centers serving Alibaba and Tencent. (The Information).

Nov. 9

• 10:41 p.m. · Nvidia's tallies undercounted Megaspeed sales by 50,000 chips. Malaysian records also show Megaspeed imported at least 17,544 GB300s, worth about $787 million, in November 2025. (Bloomberg via ZeroHedge).
• 6:38 p.m. · Securities class action filed. It accuses Nvidia and Huang of concealing his ties to a suspected spy. (Kobeissi Letter).
• 11:08 a.m. · Commerce probe went to DOJ after Nvidia's lawyer emailed. General Counsel Tim Teter contacted investigators about the Megaspeed inquiry. (The New York Times).

Nov. 8

• 5:25 p.m. · A classified memo, overseen by Rubio. US intelligence assessed that a woman close to Huang had been recruited by China's Ministry of State Security. (Dan Primack).
• 3:37 p.m. · Huang admits an affair; board opens probe. "I was unfaithful to my wife." The board said it saw no sign national security or secrets were compromised, and kept him as CEO. (Nvidia).

Oct. 29 to Nov. 7

• Nov. 7 · FT: a "romantic relationship". US officials believe Huang was romantically involved with Alice Huang. (Kobeissi Letter).
• Nov. 5 · House chairs request a briefing. Three Republican committee leaders ask Huang to explain the relationship. (CNBC).
• Oct. 29 · The story breaks. The NYT reports US intelligence believes Megaspeed executive Alice Huang was recruited to spy on Huang. Nvidia calls the diversion claims "investigated and debunked." (CNBC).

Coming up

• Tue., Nov. 17 · Q3 earnings. Results at about 1:20 p.m. PT and a 2 p.m. PT call led by Kress. (Nvidia).
• Wed., Nov. 18 · Kress all-hands. At noon ET. (via @DeItaone).
• Thu., Nov. 19 · Anthropic starts trading. A test for Nvidia's $10 billion IPO pledge. (Reuters).
• Dec. 1 · Closed-door congressional hearing. Huang has been called; lawmakers threaten a subpoena. (CNN).
• Dec. 3 · Senate Banking hearing. Huang asked to appear. (Al Jazeera).
• Dec. 10 · Lutnick testifies. Before Senate Banking. (CBS News).

Before the scandal

• Antitrust: The Justice Department is investigating whether Nvidia structured its $20 billion Groq licensing deal to avoid antitrust review (Bloomberg), and has asked how its $12.93 billion Hugging Face deal would affect competition (Reuters).
• Circular financing: Critics say Nvidia funds customers that then buy its chips. Huang dismissed the concern in September (TechCrunch). Nvidia is backstopping debt for a data center Anthropic will use (The Information).
• Chip smuggling: A Super Micro contractor pleaded guilty in a $2.5 billion scheme to smuggle Nvidia chips and servers into China (Polymarket).

Items marked single source rest on one outlet or anonymous sources and have not been confirmed.