According to reports, during a summer meeting with the company’s finance team, former NVIDIA CEO Jensen Huang described current interim CEO and former CFO Colette Kress as a "deer in headlights," claiming she was unable to assist him in shaping strategy or making decisions. The report, citing anonymous sources, indicated that the discussions involved NVIDIA providing multi-billion-dollar guarantees to data center operators unable to prepay for chips.
Kress had questioned these project-centric, credit-backed transactions, demanding clear definitions of transaction value, guarantee valuation, and return assessment criteria. She also reduced NVIDIA’s commitment to OpenAI’s Ohio data center project from an initially planned $250 billion credit line to $105 billion. Huang resigned on Thursday, and NVIDIA is currently seeking a permanent CEO.
Disclaimer: Contains third-party opinions, does not constitute financial advice
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