NVIDIA CEO resigns after affair with suspected Chinese spy; investors sue
NVIDIA CEO Jensen Huang resigned as president, CEO, and director on November 12 following reports of an affair with a Chinese businesswoman allegedly linked to Chinese intelligence. The scandal triggered a stock drop and a securities class-action lawsuit. The affair was reported by the New York Times, identifying Alice Huang, a former executive at Singapore-based Megaspeed, as a suspected Chinese spy. NVIDIA's stock fell over 4% on November 9, erasing $192.1 billion in market value. A lawsuit was filed by Rosen Law Firm on behalf of investor Mark Kistenmacher, covering securities purchases from October 9, 2025, to November 8, 2026. The company faces scrutiny over governance, with no succession plan in place. CFO Colette Kress will serve as interim CEO while a replacement is sought. Legal experts say securities fraud claims are likely, though evidence Huang knew of the alleged espionage remains unclear.