The Economic Times

Wall Street's main indexes opened lower on Thursday after Nvidia said CEO Jensen Huang was stepping down, leaving the AI industry without its biggest champion.

Nvidia CFO Colette Kress has been named interim CEO of Nvidia after Jensen Huang stepped down from the leadership role. A finance graduate with an MBA, Kress joined Nvidia in 2013 after working at Microsoft, Cisco and Texas Instruments. Here's a look at her education, qualifications and nearly 25-year career in the technology industry.

It was announced that Nvidia's Executive Vice President and Chief Financial Officer, Colette Kress, has been appointed interim CEO. This comes after it was revealed that Jensen engaged in two extramarital affairs. One with an alleged Chinese intelligence operative and another with a subordinate executive. This came after it was reported that Huang had maintained an undisclosed relationship with Kimberly Powell.

As Jensen Huang steps down as Nvidia CEO following two controversies involving his reported relationships with two women, the question is, who will lead the AI chipmaker next? Nvidia has named CFO Colette Kress as interim CEO, but who could get the job permanently? From Ian Buck to Rene Haas, several names are now in the succession discussion.

Jensen Huang resigns: Jensen Huang has resigned as Nvidia CEO with immediate effect after leading the chipmaker for 33 years. CFO Colette Kress will serve as interim CEO as the board begins its search for a permanent replacement. His departure comes amid reports about alleged relationships and scrutiny over Nvidia's links to companies suspected of evading US export controls.

Police were responding to a shooting in downtown Washington on Thursday as a local official said multiple people were shot at a fitness center. Brooke Pinto, a member of the DC City Council, said the shooting occurred at and outside a fitness center and multiple people had been shot.

Nvidia CEO replacement:: Who could replace Jensen Huang as Nvidia CEO if he steps down or is forced out? Nvidia's board is reportedly exploring possible successors, with CFO Colette Kress and data centre head Ian Buck among the internal options. Arm CEO Rene Haas, AMD chief Lisa Su and Huang's children Madison and Spencer are also part of the succession discussion.

Kimberly Powell is Nvidia's vice president of healthcare. According to former staff members, Jensen Huang and Kimberly Powell were captured on video being affectionate at a San Jose hotel. It was revealed that this happened during Nvidia's annual developer conference in March. The board of tech giant Nvidia is considering whether to oust its CEO Jensen Huang.

Kimberly Powell joined Nvidia in 2008 to promote its chips for medical imaging. She became vice president of healthcare in 2017 and now oversees technology for medical imaging, life sciences and drug discovery. A New York Times report alleging an intimate relationship with CEO Jensen Huang has shifted attention to her long career and their workplace relationship.

Commerce and Industry Minister Piyush Goyal stated that India is close to finalizing a strong trade deal with the US. The framework for the initial phase of the bilateral agreement has been completed. However, recent changes in US tariffs have necessitated further discussions between the two countries. Goyal emphasized that the outcomes of the negotiations will be beneficial for India.

Indian companies proposed $7.05 billion in overseas borrowings through ECBs and foreign currency convertible bonds in September 2026. Infrastructure financiers, NBFCs and major corporates accounted for significant proposals, with most borrowings routed through the RBI's general permission framework.

In the latest quarterly report, Nebius achieved impressive revenue of $981 million, exceeding analyst projections of $907.5 million. The company is optimistic about future sales, forecasting between $12 billion and $13 billion by 2027. However, its revenue predictions for 2026 are slightly lower than the market's expectations. With customers opting for longer agreements at elevated prices, prepayments have significantly surpassed capital investments.

Futures tracking the Nasdaq 100 fell significantly after Nvidia shares plummeted due to leadership concerns. Reports about CEO Jensen Huang led to a decline in investor sentiment towards AI-linked stocks. Additionally, the upcoming Producer Price Index data is raising inflation expectations among investors. Concerns over economic impacts and geopolitical risks remain prevalent, with a December rate hike by the Federal Reserve anticipated.

Clean Max Enviro Energy Solutions has signed an MoU to invest Rs 50,000 crore in Andhra Pradesh. This investment will focus on developing 3GW of integrated power generation facilities using wind and solar energy. The power generated will support a compute factory being established in Kurnool in collaboration with Neysa. Clean Max aims to integrate generation, storage, and distribution to meet rising clean energy demands.

Prime Minister Narendra Modi outlined the goal of developing India by 2047 during a Diwali Milan event. He highlighted India's significant achievements in various sectors, including technology and poverty alleviation. Modi emphasized the need for media to showcase Indias successes to the world. He also called for increased awareness about drug abuse among youth. Modi concluded by noting the importance of unity in reaching India's developmental goals.

Nvidia CEO replacement Jay Puri: Jay Puri, an Indian-origin executive who spent more than two decades at Nvidia, is drawing attention as CEO Jensen Huang faces reports of a possible board ouster. Puri retired from his executive role in August 2026, but his experience at the chipmaker has brought his career into focus amid leadership uncertainty.

The board of tech giant Nvidia is considering whether to oust its CEO Jensen Huang. This comes after revelations that Jensen engaged in two extramarital affairs. One with an alleged Chinese intelligence operative and another with a subordinate executive. Huang had reportedly maintained an undisclosed relationship with Kimberly Powell, Nvidia's vice president of health care.

Indian government bonds are currently facing losses as traders brace for an influx of debt supply and mounting inflation pressures. The 10-year US Treasury yield is nearing the 5% mark, fueled by predictions of the Federal Reserve's interest rate hikes in December. With India's retail inflation climbing to 6.09%, expectations rise for further rate adjustments by the Reserve Bank of India.

Durga Rao Tompaki will lead a 17-member visually challenged Indian cricket team at the Asia Cup. The tournament is set to take place in Dhaka from November 15 to 20. India aims to reclaim the title they last won a decade ago. The Cricket Association for the Blind in India organized the send-off event for the team.

India is looking to solidify partnerships with ASEAN countries in digital public infrastructure and telecommunications. The country seeks to leverage its experience in power grid integration for regional energy security. Prime Minister Narendra Modi's upcoming visit to the Philippines will coincide with the 49th ASEAN Summit. Various world leaders will participate in discussions on regional cooperation and challenges.

Four BSE 100 stocks, including Punjab National Bank, Federal Bank and Kotak Mahindra Bank, hit fresh 52-week highs, with monthly gains ranging from 10% to 22%.

The central government has issued new guidelines allowing officers in Pay Levels 8 and above to buy laptops for their official duties. Eligible officers can invest up to Rs 1,50,000, or Rs 1,80,000 for Make-in-India devices. After four years, these laptops can be kept, provided that all data is erased prior. In case of transfers or retirements, officers can retain laptops by settling the book value.

Banks will be closed in few states on November 16, 2026, due to Chhath Puja. While the Delhi Government has declared a public holiday. November features several bank holidays across India for various festivals and occasions. Customers are advised to complete important banking tasks before the holiday. Scheduled and non-scheduled banks observe public holidays on specific Saturdays of the month.

Puma dominated India. So why was India missing at its HQ?

A Blind poll found that 88% of the 232 Nvidia employees surveyed wanted Jensen Huang to stay as CEO. Nvidia opened an independent inquiry into whether Huang was targeted by a foreign intelligence effort. Reuters reported that directors met Wednesday to consider his future. Nvidia had yet to announce a decision as of Nov. 12.

India is a trusted global partner in a world full of Katappas: Piyush Goyal at CII Summit

Zee Entertainment has approved a Rs 600 crore share buyback at Rs 91 per share, a 24% premium over its latest NSE closing price. The company will repurchase up to 6.59 crore shares through the tender offer route, with November 25 fixed as the record date. Promoters will not participate.

Public discontent regarding the ongoing war on Iran has influenced recent congressional election outcomes. President Trump's party faced losses, reflecting a desire for change in military policy. The new Congress, beginning January 3, may attempt to cut war funding through the budget process. Democrats plan to push for legislation to officially end the conflict despite potential presidential vetoes.

On Thursday, Andhra Pradesh called on American retail major Walmart to expand its local procurement by bringing the state's MSMEs, women-led self-help groups (SHGs), and artisans into its supply network.The request was made during discussions between Andhra Pradesh's IT and HRD Minister Nara Lokesh and Paul Dyck, Walmart's Senior Vice President for Global Government Affairs and Business Diplomacy, who met on the sidelines of the 31st CII Partnership Summit.Andhra Pradesh is asking Walmart and Fl

Nvidia CEO Jensen Huang's relationship with Chinese businesswoman Alice Huang has led to an FBI investigation. The claims about Alice being a Chinese agent have surprised many in Taiwan. Following the news, some stores in Taipei are considering removing photos of Huang. Authorities in Taiwan are closely monitoring any future entries of Alice Huang into the country.

Michael Carrick was dismissed as manager of Manchester United after their disappointing start to the season. The club has recorded just one league win and currently sits in the relegation zone. United's performance has been the worst in 40 years, leading to a necessary change in management. Mauricio Pochettino has been identified as a potential successor for Carrick.

The Indian rupee faced a setback on Thursday, dipping to 94.0425 against the dollar amidst rising oil prices and escalating inflation fears. Previously, it had seen a peak of 93.62 thanks to foreign portfolio inflows. Investors are now holding their breath for October's consumer inflation figures, as they could significantly influence upcoming policy decisions and market sentiment surrounding the rupee.

Nippon India Mutual Fund's Gold BeES and Silver ETF together accounted for 55% of the average daily trading turnover across gold and silver ETFs during Diwali 2026. Gold BeES commanded a 54% share of category volumes, while Nippon India Silver ETF held 57%, highlighting strong trading activity in both products.

Art Mumbai is back, showcasing a wider array of international exhibitors while highlighting the evolution of art collections. With community initiatives and social media playing pivotal roles, art accessibility and engagement are being transformed in India.