Jensen Huang has been fired from his position as head of Nvidia - the company announced on its website.
Colette Kress, who previously managed the company's finances, will serve as CEO.
Within 20 minutes of the announcement, Nvidia stock was down 12% in premarket trading.
Shares of Chinese artificial intelligence companies also fell. These companies are rushing to access Nvidia's additional capacity outside of China amid concerns that sanctions could be tightened after Huang's departure.
At least leave your jacket on.
Khan Navidia, Huang made it his ability to work if he leaves and there is no company. The board are idiots.
The story of Jobs repeated itself.