Kress, 59, is no stranger to the pressures of leading a high-growth technology firm. Having joined Nvidia in 2013 after stints at Cisco, Microsoft, and Texas Instruments, she has overseen a transformation that is statistically staggering. Under her tenure as CFO, Nvidia’s revenue has surged from $4.13 billion in fiscal 2014 to $130.5 billion in fiscal 2025. Concurrently, the company’s market capitalization has climbed from roughly $9 billion to nearly $4 trillion, an increase of approximately 44,000%. Scott W. Simmons, co-managing partner of executive search firm Crist Kolder Associates, described Kress as “very much the right interim CEO,” noting her deep institutional knowledge and credibility with investors. She retains her CFO title while leading the company, a dual role that underscores the board’s desire for continuity during this turbulent period.
The immediate challenge for Kress is not just operational, but strategic. While her financial acumen has been central to Nvidia’s growth, reports suggest she takes a more cautious approach to the company’s aggressive financing commitments than her predecessor. Anonymous sources indicate that Kress opposed a proposed $250 billion credit backstop that would have allowed OpenAI to fill 8 gigawatts of data-center space with Nvidia chips. Although The Information reported that Nvidia later split this arrangement, guaranteeing about $100 billion so far, the reported opposition suggests a pragmatic stance on risk. This caution is significant because such financing deals underpin a substantial portion of Nvidia’s business model. Competitors like Broadcom (AVGO) have offered to cover a larger share of deal costs than Nvidia’s 25% backstop, raising competitive risks if Kress tightens terms during her interim tenure. Her first earnings call will be a critical indicator of whether this financial conservatism extends to the broader commercial strategy.
As Kress manages the immediate fallout, the board has turned its attention to the permanent succession, a task described by execs as “formidable.” With no publicly disclosed succession plan, the search is being conducted both internally and externally. Notably, three Israelis are reportedly among the primary candidates considered by the board. Michael Kagan, Nvidia’s current Chief Technology Officer, is a strong contender; as a co-founder of Mellanox, the Israeli networking company Nvidia acquired for approximately $7 billion in 2020, he has deep ties to the firm’s current technology stack. His advantage lies in having helped develop the chipmaker’s technology over the last several years and maintaining internal contacts. Eyal Waldman, also a Mellanox co-founder and former CEO, is another candidate. Waldman brings extensive experience as a chief executive, which may give him an edge over Kagan in terms of leadership pedigree, though he lacks the recent internal tenure. The third candidate is Johny Srouji, Apple’s Chief Hardware Officer. Srouji’s primary strength is his experience developing Apple’s silicon strategy, which enabled the iPhone maker to design its own chips. However, a significant hurdle for his appointment is his recent promotion to Apple’s chief hardware officer in April 2026, less than a year prior to his potential move to Nvidia.
Other candidates in the mix include Rene Haas, CEO of Arm and a former Nvidia executive; Lisa Su, CEO of AMD, a direct competitor; and Matt Garman, CEO of Amazon Web Services. Ian Buck, who leads Nvidia’s hyperscale AI hardware and software products, is also a favorite, though his lack of executive experience is cited as a potential drawback. The search has also attracted political attention. U.S. President Donald Trump suggested on social media that former Apple CEO Tim Cook should take the role, calling it a case of “A Legend replaces a Legend.” Meanwhile, Democratic policymakers have pressured the administration regarding loose limits on NVIDIA chips sold to China, demanding that officials “preserve all records” of such dealings, adding a layer of regulatory complexity to the leadership transition.
The board has also named Harvey Jones as chair, a move that signals a focus on long-term stability. Jones, who has worked in technology and semiconductors for over 30 years, will oversee the search. Simmons expects the board to prioritize a technologist for the permanent role, given the light-speed evolution of cutting-edge technology. For now, Kress remains the central figure, tasked with steering Nvidia through a pivotal moment in the AI industry. Her ability to balance financial prudence with the aggressive growth expectations of the market will define the company’s trajectory. The next confirmed development will be the outcome of the board’s internal and external search, a process that will determine whether Nvidia continues its trajectory under a familiar face or pivots toward a new architectural vision.
