Nvidia CEO resigns over affair with suspected Chinese spy, triggering FBI probe and market selloff

Nvidia CEO Jensen Huang resigned following revelations of two affairs, including one with a suspected Chinese spy, triggering a US market selloff and an FBI investigation. Huang's resignation came after he admitted to a relationship with Alice Huang, a suspected Chinese spy, and reports of an affair with Nvidia executive Kimberly Powell. Nvidia shares dropped over 10% at market open, wiping out $400bn in value, before recovering to trade 5% lower. The company appointed CFO Colette Kress as interim CEO and Harvey C Jones as its first chairman. The scandal has raised concerns about Nvidia's governance and export controls, with Democrats requesting records related to the sale of $4.8bn of chips to Alice Huang's company Megaspeed. Analysts warn of further allegations, while President Trump suggested Tim Cook as a replacement. Nvidia supplies about 90% of AI training chips and was valued at $4.3trn.