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By Steve Mollman
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President Donald Trump has floated Tim Cook as Nvidia's next CEO following the abrupt resignation of Jensen Huang, calling the longtime Apple leader the only person who should take over the artificial intelligence chip giant.
“NOW THAT Nvidia CEO JENSEN 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 Truth Social on Thursday.
Dan Ives, a technology analyst and partner at investment firm Yorkville Ives & Co., told Newsweek on Thursday that he considers Cook the top candidate for the job.
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“We believe Cook is the top candidate,” Ives said.
Nvidia announced earlier Thursday that Huang had resigned as president, CEO and a member of its board, effective immediately. The company appointed longtime Chief Financial Officer Colette Kress as interim CEO and said its board had begun searching for a permanent successor and would consider both internal and external candidates.
Newsweek contacted Nvidia and Apple for comment.
Why It Matters
Who succeeds Jensen Huang could shape the future of one of the world's most consequential technology companies at a pivotal moment in the AI boom.
Huang co-founded Nvidia in 1993 and led it for 33 years, overseeing its transformation into the dominant supplier of chips powering generative AI. His departure leaves the company searching for a leader capable of succeeding an executive whose identity became intertwined with Nvidia's technology, strategy and rise.
Nvidia shares fell as much as 14.3 percent Thursday following Huang's departure before paring much of the decline, underscoring investor concern over the leadership upheaval.
Cook presents an unusual possibility because he has already navigated one of the most closely watched succession challenges in corporate history, taking over Apple from Steve Jobs in 2011.
He also happens to be newly available for a different kind of role. Cook stepped down as Apple's CEO on September 1 after 15 years in the job, handing the position to longtime hardware executive John Ternus. Cook remains at Apple as executive chairman, where the company said he would continue assisting in areas including engagement with policymakers around the world.
What Trump Said About Tim Cook and Nvidia
Trump's endorsement came just hours after Huang's resignation was announced.
The president did not indicate whether he had spoken with Cook about the Nvidia job or whether he had any knowledge that Cook was being considered by the company's board.
Trump's suggestion nevertheless thrust Cook into a succession discussion in which several prominent technology executives had already been floated.
Among other names floated publicly are Nvidia executives Kress, Michael Kagan and Ian Buck, along with external figures including Lisa Su, CEO of rival chipmaker Advanced Micro Devices, and former Google CEO Eric Schmidt.
Kress has been Nvidia's CFO since joining the company in September 2013. Nvidia board chair Harvey Jones said Thursday that she has “a deep understanding of our business, customers, operations and financial position” and that the board had “full confidence” in her and the company's leadership team.
Analysts described Kress as a steady interim choice while raising questions about whether she has the profile needed to permanently replace Huang. Susannah Streeter, chief investment strategist at investment platform Wealth Club, told Reuters that Kress would be seen as “a safe pair of hands” but “lacks global status.”
Anshel Sag, principal analyst at Moor Insights and Strategy, similarly told Reuters that while Kress was “a very strong CFO,” he did not believe she was “the long-term visionary that Nvidia needs to continue its current trajectory.”
Could Tim Cook Replace Jensen Huang?
Cook's record offers an obvious parallel to the challenge facing Nvidia: he has previously taken over a technology company after the departure of a celebrated co-founder who was widely viewed as inseparable from the business.
Steve Jobs resigned as Apple CEO in August 2011 and Cook succeeded him. Over the following 15 years, Cook oversaw Apple's expansion while becoming one of the most prominent corporate executives in the world.
But taking over Nvidia would pose a different challenge. Huang is both Nvidia's co-founder and an engineer closely associated with its technology and product strategy, while Cook built his reputation in operations and supply-chain management before becoming Apple's chief executive.
Ives, however, told Newsweek that Cook has the stature needed to succeed Huang.
“He is a global tech leader and visionary that can fill the shoes of Jensen,” Ives said.
Cook's experience navigating Washington and China could also be particularly relevant to Nvidia. The chipmaker has become central to the technological competition between the United States and China as Washington has imposed restrictions on exports of advanced AI chips to Beijing.
Apple's announcement of its own leadership transition highlighted Cook's continuing role in engaging with policymakers globally after leaving the CEO job.
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Jensen Huang's Nvidia Resignation
Huang's departure followed days of intensifying scrutiny over reports about his personal relationships.
As Newsweek previously reported, Huang admitted that he had been unfaithful to his wife amid reporting that a Chinese business executive with whom he had developed a relationship had been identified by U.S. intelligence as a potential operative for Beijing. Nvidia had opened an independent investigation into the matter.
The New York Times reported Wednesday that Huang had also engaged in an affair with Kimberly Powell, Nvidia's vice president of healthcare and one of his direct reports, adding to the pressure on his leadership.
Trump had defended Huang only days before his resignation. After saying he had spoken to the Nvidia chief, Trump told reporters Monday that Huang said he had “absolutely no idea that the person in question was a spy.” Trump added that he believed Huang would “be in good shape.”
Nvidia announced Huang's immediate departure Thursday without discussing the allegations in its CEO-transition statement. Huang has also agreed to testify before Congress before Thanksgiving, CNBC reported Thursday. The board thanked him for his “immeasurable contributions to the company and the industry.”
Nvidia is due to report its fiscal third-quarter results on November 17.
Kress said the company would build on “the extraordinary foundation Jensen created over the last 33 years” while continuing its work in accelerated computing and AI.
Newsweek reporters and editors used Martyn, our AI assistant, to produce this story. Learn more about Martyn here.
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