Nvidia CEO Jensen Huang Resigns After Spy Affair Scandal

Jensen Huang has resigned with immediate effect as CEO of Nvidia following revelations about extramarital affairs, including one with an alleged Chinese spy. CFO Colette Kress will serve as interim CEO, and the company's stock fell up to 13 percent in early trading Thursday. Huang admitted to infidelity on Sunday, which was widely seen as confirming an affair with Alice Huang, a former executive at Nvidia customer Megaspeed, whom US intelligence believes is a Chinese spy. A New York Times report Wednesday detailed a second affair with Nvidia vice president Kimberly Powell, prompting the board to launch an independent investigation. Huang, who founded Nvidia in 1993 and led it to become the world's dominant AI chip maker, had no clear successor, with over 60 managers reporting directly to him. The resignation follows pressure from Senator Kevin Cramer and marks a dramatic fall for the billionaire, whose company's market value has dropped below four trillion dollars.