Nvidia CEO Jensen Huang resigns after reports of second affair deepened scandal

Nvidia co-founder Jensen Huang has resigned as chief executive after revelations of two alleged extramarital affairs intensified scrutiny of his leadership. The company’s board named chief financial officer Colette Kress interim CEO and elected Harvey Jones as its first board chair. Huang had acknowledged being unfaithful in an apology to employees, without identifying the woman involved. One reported relationship was linked to Alice Huang, who has been accused of being a Chinese spy; a second was reportedly with an Nvidia executive. The company and the FBI are investigating the affair Huang acknowledged, while the allegations have also raised concerns about national security and possible effects on US sales of advanced chips to China.

The upheaval threatens stability at a company central to the global AI boom. Nvidia, valued at more than $4 trillion, supplies chips used in AI systems, cloud computing and gaming, and Huang has been closely identified with its success. Its shares fell sharply amid the reports, wiping hundreds of billions of dollars from its market value and potentially affecting pension funds and other investors with broad exposure to US stocks. Analysts expect near-term turbulence, though they point to continued AI demand and Nvidia’s hard-to-replace products as reasons for confidence in its longer-term business. Huang’s departure may not end his influence: he owns more than 3.5% of Nvidia and is expected to remain on its board. The company’s flat structure, with many senior leaders reporting directly to him and no clear successor, adds uncertainty to the transition.