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Nvidia CEO Jensen Huang has resigned from his roles as president, chief executive, and board member following reports of extramarital affairs. The departure comes amid allegations that Huang had a relationship with a woman suspected of being a Chinese intelligence asset, as well as a separate affair with an internal company executive.
Resignation and Leadership Transition
Nvidia’s board of directors announced the resignation on Wednesday, thanking Huang for his significant contributions to the company. While the board had the authority to remove the CEO, the resignation was finalized before such a vote was required. The company did not address the specific allegations of adultery in its public statement.
Chief Financial Officer Colette Kress has been appointed as interim CEO. Potential long-term successors include co-founder Chris Malachowsky, who previously led product engineering, and Ian Buck, the executive responsible for high-performance computing who helped pivot the company toward AI technology.
Allegations and Investigations
Reports from the New York Times revealed that Huang maintained a relationship with Alice Huang, a Chinese businesswoman whom US intelligence officials identified as a suspected spy for Beijing. Alice Huang previously held a senior position at Megaspeed, a Singapore-based data center firm currently under investigation by the Singaporean government for allegedly circumventing US export sanctions on high-end chips.
Following the initial reports, Nvidia hired the New York law firm Wachtell, Lipton, Rosen & Katz to conduct an independent investigation, led by former US Attorney Joon Kim. Additionally, a second report on Wednesday alleged that Huang had an affair with Kimberly Powell, an Nvidia executive who reported directly to him.
President Donald Trump stated that the FBI is investigating the matter, noting that Huang claimed he was unaware of the woman’s alleged ties to intelligence services. Huang has also been summoned for a closed-door briefing with Congressional committees on November 18.
Impact on National Security and Markets
The scandal has raised concerns among US lawmakers due to Nvidia’s central role in the global AI race. The US government has implemented strict export controls since 2022 to prevent China from accessing advanced technology, citing national security risks. Huang had been actively involved in diplomatic efforts between Washington and Beijing to navigate these restrictions.
Stephen Witt, author of the biography Thinking Machine, described Huang as a “tech visionary” comparable to Steve Jobs, noting his instrumental role in building the infrastructure for modern AI. Despite his professional success and an estimated fortune of $155bn, Huang’s public image as a devoted family man has been severely impacted. Earlier this week, Huang publicly admitted to being “unfaithful” to his wife, Lori Mills, and apologized for the harm caused to his family.
Nvidia, founded in 1993, has grown into one of the world’s most valuable companies by shifting its focus from graphics chips for gaming to the hardware that powers artificial intelligence. The company’s stock value dropped significantly on Wednesday following the reports.
