Nvidia CEO resigns after affair linked to Chinese intelligence, wiping $500 billion in value

Nvidia CEO Jensen Huang resigned on November 12th following reports of an affair with a woman allegedly linked to Chinese intelligence, triggering a crisis that has erased roughly $500 billion in company value. The scandal has sparked political fallout in Washington and raised concerns about market concentration risks. The affair, involving a younger woman who reportedly worked for Chinese state broadcaster CCTV, has prompted an independent investigation by Nvidia's board. Chief Financial Officer Colette Kress will lead the company temporarily, while President Donald Trump has publicly defended Huang amid growing Democratic scrutiny. The scandal draws comparisons to the 1963 Profumo affair in Britain, where a government minister resigned over a relationship with a woman linked to Soviet intelligence. Analysts question whether Nvidia's financial structure and lobbying influence can be maintained without Huang, whose departure marks one of the costliest corporate crises on record.