Nvidia's future dims after CEO Jensen Huang's scandal-driven exit
Nvidia CEO Jensen Huang resigned Thursday amid a personal scandal involving extramarital affairs and alleged espionage, triggering a $1.7 trillion loss in market value and casting uncertainty over the AI chipmaker's future. The scandal emerged from a relationship with Alice Huang, a Singapore-based executive accused of being a Chinese spy, and another with subordinate Kimberly Powell. CFO Colette Kress now serves as interim CEO, but analysts doubt anyone can match Huang's 30-year leadership, during which Nvidia's stock rose 700,000%. The resignation coincides with investor skepticism about AI valuations, rising interest rates, and a Democratic midterm victory promising stricter AI regulation. Nvidia has hired a headhunter to find a permanent successor, with names like AMD's Lisa Su and Tim Cook circulating.