Nvidia co-founder and CEO Jensen Huang resigned after reports of two extramarital relationships created a crisis for the company, which has become central to the global artificial-intelligence boom. The board named longtime chief financial officer Colette Kress interim CEO and appointed Harvey Jones, a former Synopsys CEO, as Nvidia’s first chairman - changes that mark a major shift in a company Huang had led for decades. Nvidia shares fell more than 11% after the announcement. Kress, who joined Nvidia in 2013 and is well known to investors, is expected to provide continuity during the transition.
One reported relationship was with a married Nvidia executive who reported to Huang; the account, based on former employees, has not been independently verified and may breach company policy. The other involved businesswoman Alice Huang, who was reported to have ties to Chinese intelligence. She held a senior role at a Singapore-based chip buyer whose related firms are under U.S. investigation over alleged chip smuggling to China. Nvidia is investigating whether Jensen Huang was targeted by a foreign intelligence operation, and he has apologized to his family and backed the inquiry. U.S. officials have called for greater scrutiny and for him to testify. The allegations have intensified uncertainty around a company valued above $1 trillion, whose chips underpin much of the AI industry.
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