Jensen Huang resigns as Nvidia CEO after extramarital affairs revelations

Jensen Huang has resigned as chief executive of Nvidia following reports of extramarital affairs, ABC News Australia, the Wall Street Journal, and Irish Times reported on November 12. His exit comes after he admitted to a relationship with a woman who United States authorities believe was a Chinese spy, alongside revelations of an affair with a senior Nvidia executive. The Irishexaminer reported that Nvidia's board of directors issued a statement confirming his departure, paying tribute to his profound contributions while omitting mention of the personal conduct and spying revelations. [3][4][5][6][8][10][11]

The Irish Times reported that Chief Financial Officer Colette Kress will take over as interim chief executive until a full-time successor is appointed. The 63-year-old Huang co-founded Nvidia in 1993, alongside Chris Malachowsky and Curtis Priem. As FTMQ News reported earlier, the company previously hired law firm Wachtell, Lipton, Rosen & Katz to investigate the affair while the Federal Bureau of Investigation launched its own probe into the matter. [3][4][13][15][16]

The executive departure triggered a sharp reaction in financial markets. Al Jazeera reported that Nvidia shares plummeted 8.6 percent in after-hours trading on Wednesday when reports emerged that the board was meeting to consider Huang's position. The Irish Times said shares fell further by more than 10 percent in pre-market trading, while Sky News reported that the company's valuation dropped by $430 billion over two days. [2][3][12]

Headquartered in Santa Clara, California, Nvidia develops graphics processing units and systems on chips used for artificial intelligence, mobile, and automotive applications. France 24 reported that the leadership crisis has drawn international focus to geopolitical rivalry and the concentration of power within the global AI industry, where Nvidia occupies a central role. [1][3][13]