Jensen Huang is out as CEO of Nvidia (NVDA).

It wasn’t the affair with the Chinese spy that ultimately did him in.

It was the report of a second affair, this time with Nvidia’s VP of Healthcare, Kimberly Powell.

News broke Wednesday evening that Huang and Powell had been filmed showing affection at a San Jose hotel in March, during Nvidia’s GTC conference.

According to the report, Huang’s security guard stopped the person who filmed them and offered them a confidentiality agreement.

I’ve never shaken my head this much in my life.

Of all the things I thought could derail my Nvidia investment, extramarital affairs certainly weren’t on my list.

But now it’s time to move on.

Chief Financial Officer Colette Kress has been named interim CEO while the board searches for a permanent replacement.

So who is the woman suddenly running the most important AI company in the world?

Meet Colette Kress – Interim Nvidia CEO

If there was one person at Nvidia capable of stepping into Jensen’s shoes on short notice, it’s Colette Kress.

She knows this company inside and out.

She has been Nvidia’s CFO since 2013 and has been one of the most visible executives at the company throughout its incredible rise.

If you’ve listened to Nvidia earnings calls over the years, you already know her voice.

When Kress joined Nvidia, the company generated just over $4 billion in annual revenue. In its most recent fiscal year, revenue reached $216 billion.

Over this time, she helped oversee Nvidia’s evolution from a gaming graphics company into the most important AI company in the world.

And she brought plenty of experience with her.

Before Nvidia, Kress spent 13 years at Microsoft, including four years as CFO of its Server and Tools division. She then spent three years at Cisco, where she was responsible for financial strategy, planning, reporting and business development across its business segments, engineering and operations.

So I'm very comfortable with Kress taking over on an interim basis – and potentially even a permanent basis.

Nvidia didn't hand the company to someone investors have to get to know.

They handed it to one of the executives investors already know best.

Kress understands the business, understands Wall Street, and has spent more than a decade working directly alongside Jensen as Nvidia became the most valuable company in the world.

For a company suddenly forced to replace its founder and CEO, I can't think of a more obvious choice to steady the ship.

What’s My Next Move?

As painful as Jensen’s departure is, I don’t believe the AI boom suddenly ended Wednesday night.

Nvidia still has its technology. The hyperscalers are still spending hundreds of billions of dollars building AI infrastructure. Data centers still need GPUs, memory, networking equipment and enormous amounts of electricity.

So I want to use this selloff as an opportunity.

That means freeing up some capital.

I currently own a significant position in Micron (MU). With the stock getting caught up in the Nvidia selloff, I’m considering selling that position and taking the tax loss before year-end.

I can then move that money into another AI beneficiary that gives me similar exposure to Micron, without triggering the wash-sale rule.

Here are the options I’m considering:

• SanDisk (SNDK): The most obvious replacement for Micron. I maintain exposure to booming AI data-storage demand without buying Micron back.

• AMD (AMD): Nvidia’s biggest GPU competitor could be one of the few companies that actually benefits from the leadership turmoil. In fact, AMD shares are higher over the last week as Nvidia and Micron have fallen.

• CrowdStrike (CRWD): AI is creating an entirely new generation of cybersecurity threats while also increasing the importance of protecting massive data centers and cloud infrastructure. This makes companies like CrowdStrike indispensable.

• Bloom Energy (BE): I’m already holding call options on Bloom, which are up around 80% as I type. Bloom has become one of my favorite ways to play the AI data-center buildout because all those GPUs are useless without electricity. Adding to my position is absolutely on the table.

• Nvidia (NVDA): I’ve thought about buying more Nvidia shares or options on the stock. I already own a significant position, however, and frankly there are just too many questions regarding the stock right now. So while I’m holding my shares, I’d rather invest new funds elsewhere.

I haven't made the decision yet.

But I'm not looking at this Nvidia selloff as a reason to run away from AI.

I'm looking at it as a chance to reposition.

If investors are going to indiscriminately dump companies tied to Nvidia because Jensen is gone, I want to find the stocks getting thrown out with it whose businesses haven't changed.

That’s where I think the opportunity is.