Nvidia CEO Jensen Huang resigns after scandals involving suspected Chinese spy and company executive

Jensen Huang has abruptly quit as chief executive of AI chipmaking giant Nvidia after admitting to extramarital affairs, ending his 33-year run at the helm of the company. The board announced that Huang stepped down as president, chief executive, and board member effective immediately. The scandal has wiped out $550bn in stock market value in just five days, with shares plunging 10% in premarket trading on Thursday.

Investigations

US lawmakers are now demanding that Huang answer questions over whether one of his alleged relationships was with a Chinese spy named Alice Huang, who worked as an executive at the Singaporean firm Megaspeed and allegedly entered Taiwan eight times in 2024 and 2025. China has rejected those allegations as a smear, and US Attorney General Todd Blanche stated that the Department of Justice has not yet drawn conclusions about whether she was engaged in espionage. According to US media reports, Huang also had a second relationship with a long-time Nvidia executive who reported directly to him, Kimberly Powell.

Company Impact

Chief Financial Officer Colette Kress has been named interim CEO and called an emergency meeting of her executive team to discuss the future while the board considers internal and external candidates. Nvidia stated it has no reason to believe national security or secrets were compromised, though an independent inquiry is underway. Huang, who is the company's fourth-largest investor with a stake of about 3.61%, will not remain on the board. U.S. President Donald Trump said on Sunday that Huang had done an amazing job for the country and told him he had no idea the woman was a spy.

Context

Nvidia has grown into one of the world's most valuable companies by providing the high-powered computer chips that fuel the modern artificial intelligence boom. Leadership changes at firms of this scale can alter industry partnerships and public policy efforts, particularly around international chip exports.