Nvidia CEO resigns after alleged affair with suspected Chinese spy; CFO takes interim role

Nvidia CEO Jensen Huang resigned Thursday following revelations of an alleged affair with a company employee, triggering a market selloff that erased over half a trillion dollars in market value. Chief Financial Officer Colette Kress was named interim CEO. Shares plunged 13% at market open before recovering to a 6% loss. Since October 29, Nvidia has lost $1.081 trillion in market value, exceeding the entire Brazilian stock exchange's valuation. Investment firms Baird and Bernstein downgraded the stock, while Morgan Stanley removed it from its favored list. The scandal has drawn political attention, with President Trump suggesting Apple's Tim Cook as a successor. Huang admitted to an affair with a woman suspected of Chinese espionage, and reports emerged of a second relationship. The company remains central to AI development, with its chips essential to the industry.