Nvidia CEO Jensen Huang resigns amid affair scandal, shares drop 7%
Nvidia CEO Jensen Huang has left the company amid a scandal over extramarital affairs, including one with a woman accused of espionage, causing shares to plunge 13% at market open before recovering to a 7% loss. Huang resigned as president, CEO, and board member effective immediately. CFO Colette Kress will serve as interim CEO while the board searches for a permanent successor. The company lost approximately $600 billion in market capitalization since the scandal broke over the weekend. Huang co-founded Nvidia in 1993 and led it to become the world's top designer of AI chips. He remains the largest individual shareholder with about 3.6% of the company. The board appointed Harvey Jones as chairman, and quarterly results will be released as scheduled on November 17.