Nvidia founder and CEO Jensen Huang has resigned as CEO, president and board member, effective immediately, following revelations of 2 extramarital affairs, including one with Alice Huang, a former Mega Speed executive who US intelligence says is working for China. A second affair involves Kimberly Powell, an Nvidia executive.
Nvidia named chief financial officer Colette Kress as interim CEO, while Harvey Jones became chairman of the board. An independent investigation into potential foreign intelligence involvement remains ongoing, with no confirmed compromise of company secrets.
Nvidia shares plunged 13% on Thursday, dragging the Nasdaq lower as investors reacted to the leadership crisis. The chipmaker has lost roughly $1.9 trillion in market value since its peak in October, raising concerns about the future of the artificial intelligence giant and the broader technology sector.