Jensen Huang's resignation has shifted Nvidia's focus from "whether to replace him" to "what to do after the change." On November 12th, the company's official website confirmed his resignation as president, CEO, and director, effective immediately. CFO Colette Kress was appointed interim CEO. The official wording was "resignation." However, chronologically, the pressure was compounded: his admission to employees of infidelity towards his wife, coupled with media reports about his direct subordinates, and external allegations of espionage against the woman, went beyond personal misconduct. These issues directly impacted the company's code of conduct regarding conflicts of interest, as well as national security concerns from Washington. Holding only about 3.6% of the shares and lacking control, he ultimately resigned. This path is not uncommon in tech history. Some cases involve direct intervention from the board of directors. For example, Steve Jobs was ousted from Apple in 1985; Sandy Lerner was ousted from Cisco by investors and the board in 1990; Andrew Mason was fired from Groupon in 2013 due to a stock price crash; and David Neelman was removed as CEO of JetBlue Airways after the blizzard crisis in 2008. Others involve being forced to relinquish their positions under pressure from investors or public opinion. For instance, Travis Kalanick resigned from Uber in 2017 under pressure from investors, and Mark Pincus relinquished his CEO position at Zynga in 2013 due to poor performance. Still others involve being directly ousted by partners. For example, Martin Eberhard was ousted from Tesla in 2008 due to policy disagreements, Noah Glass was ousted from Twitter in 2006 by the co-founders' side, and Wang Zhidong was dismissed by the board of directors at Sina in 2001. Jensen Huang's case falls closer to the category of "forced resignation": not a forced dismissal by the board after a performance collapse, but rather a resignation resulting from a combination of scandals and external pressure. Unlike these cases, Nvidia currently lacks a true second-in-command. When Jobs left Apple, other executives could fill the void; when Altman was fired from OpenAI, the company had a clearly defined technical team. Nvidia's flat structure makes the company highly dependent on Jensen Huang, who is simultaneously the final decision-maker on product direction, a key node in customer relationships, and one of the most influential lobbyists in Washington. Kress stepping in is currently the most pragmatic choice. She joined in 2013 and has long been responsible for finance, capital allocation, and investor communications. Wall Street knows her well and can stabilize expectations and the team. However, technology and product foresight are not her strengths. In the medium to long term, the market is still watching Ian Buck. He is one of the core inventors of CUDA and directly responsible for key clients such as Microsoft, Google, Amazon, and OpenAI. Choosing him is tantamount to preserving Nvidia's most crucial software moat. The board will most likely use Kress as a transitional figure first, then see if the technical team can take over. Whether a formal appointment or the introduction of an external candidate will follow remains to be seen in the coming weeks. The impact on market capitalization has shifted from an emotional shock to a repricing effect. Since the scandal broke, Nvidia has lost hundreds of billions of dollars in market value. While the resolution of uncertainty after the official announcement may bring short-term sentiment recovery, investors will immediately begin to assess whether Nvidia can maintain its previous growth pace without Jensen Huang. Historically, some ousted founders have found success in their companies (Apple being the most typical example), while others haven't. The key lies in whether the competitive advantage remains intact and whether the successor can maintain the pace. If major customers don't significantly shift to a wait-and-see approach in the coming weeks, product development doesn't become chaotic, and the lock-in effect of the CUDA ecosystem remains, the stock price has a chance to gradually stabilize. However, if the succession process is prolonged, a vacuum emerges, or customers and investors develop doubts about technological continuity, the operational risks may outweigh the previous governance risks. The earnings report on November 17th will be the first key observation window. Nvidia's competitive advantage remains, but the guardian of that advantage has changed. The market will use orders, capital expenditures, and customer statements to repric this new phase.