Nvidia CEO Jensen Huang resigns amid alleged spy affair and insurance gap
Nvidia CEO Jensen Huang has resigned amid a scandal involving alleged romantic relationships with an accused Chinese spy and other employees, while the company faces legal exposure due to insufficient corporate liability insurance. Photos show Huang embracing Alice Huang, an alleged operative for China's Ministry of State Security, in Taipei in June 2024. The affair reportedly began that year, and he is also accused of cheating on his wife with Nvidia vice president Kimberly Powell and another employee. The scandal has erased roughly $200 billion from Nvidia's market value this week. The company only holds Side A directors and officers insurance, leaving it exposed to lawsuits naming the company alongside executives, though it already faces a federal class-action suit over securities violations.