Nvidia CEO Jensen Huang resigns, shaking AI markets and investor portfolios
Jensen Huang resigned as CEO of Nvidia on Thursday, effective immediately, following reports of affairs and national security concerns, ending his 33-year leadership of the AI chip giant. The resignation came after reports of Huang's relationship with Alice Huang, whom U.S. intelligence identified as a Chinese asset, and a separate affair with a married executive. CFO Colette Kress will serve as interim CEO, and shares fell over 14% at market open before recovering. Nvidia's market value dropped below $4 trillion, erasing $830 billion this week, impacting index fund holders as Nvidia comprises about 7% of the S&P 500. The board named Harvey Jones as first-ever chair and will consider internal and external candidates for a permanent CEO.