Nvidia CEO Jensen Huang resigns after alleged spy relationship scandal

Nvidia CEO Jensen Huang has resigned following a scandal involving his relationship with an alleged Chinese spy, the company's board announced. The resignation is effective immediately, with CFO Colette Kress appointed as interim CEO while a permanent successor is sought. The board has launched a search considering internal and external candidates, and Harvey Jones was named board chair. The scandal has triggered a 7.81% stock drop on the Nasdaq, with shares trading at $160.07. Senate Banking Committee Chairman Tim Scott has summoned Huang and Commerce Secretary Howard Lutnick to testify voluntarily on December 3, warning of subpoenas if they decline. The resignation ends Huang's era leading Nvidia's AI boom, making it one of the world's most valuable tech firms. The incoming Democratic-controlled Congress will investigate chip sales to China, while Elon Musk offered Huang a position. President Trump suggested Apple's Tim Cook as a replacement. The board stated no evidence suggests national security or company secrets were compromised.