Nvidia CEO Jensen Huang Resigns After Affairs; Succession and Cabinet Impact Loom

Nvidia CEO Jensen Huang has resigned following revelations of multiple extramarital affairs, leaving the chip giant to urgently find a successor and raising questions that could impact the US Cabinet. The company's stock initially fell over 13% before closing down about 4%. CFO Colette Kress has taken over temporarily while the board considers internal and external candidates, including AMD CEO Lisa Su, Arm CEO Rene Haas, and Apple executive Johny Srouji. Huang's departure also raises concerns about potential chip smuggling to China, as one of his mistresses reportedly worked for Singapore-based Megaspeed, which purchased $4 billion in Nvidia chips. Commerce Secretary Howard Lutnick faces pressure over export controls, with Republican senators calling for hearings in December. Analysts say Nvidia's business remains strong short-term, but Huang's 30-year leadership and unique management structure will be difficult to replace.