Jensen Huang has resigned from his position as chief executive of Nvidia, the technology giant he co-founded in 1993. The move follows recent reports of extramarital affairs, including one with a woman alleged to be a Chinese spy and another with a company employee.
Colette Kress, Nvidia’s chief financial officer, has been appointed to replace Huang on an interim basis until a permanent successor is named. The company’s board of directors confirmed Huang’s departure in a statement, which notably omitted any mention of the spying scandal or personal conduct revelations that have recently surrounded the company. Instead, the statement paid tribute to Huang’s “profound” contributions to Nvidia.
“Jensen’s contributions to Nvidia are profound. Nvidia is one of the most consequential technology companies in the world. The board and the company thank Jensen for his immeasurable contributions to the company and the industry,” the statement read.
Earlier this week, Nvidia’s board had engaged the prominent law firm Wachtell, Lipton, Rosen & Katz to conduct a “thorough and independent” investigation into Huang’s relationship with Alice Huang, who is not related to the Nvidia boss. Alice Huang is a businesswoman and head of the Singapore-based datacentre firm Megaspeed, and US intelligence services reportedly suspect her of being a Chinese asset. The law firm had initially directed Jensen Huang to continue leading Nvidia while the investigation was underway.
However, pressure on Huang intensified late on Wednesday when the New York Times reported a separate extramarital affair with Kimberly Powell, Nvidia’s president of healthcare. Powell was reportedly captured on video being affectionate with Huang at a hotel during a company conference in March. Powell has been approached for comment regarding the report.
Huang’s exit removes a significant figure from Silicon Valley during a period when the artificial intelligence arms race between the US and China is at its peak. Nvidia is a cornerstone of the entire AI ecosystem, engineering advanced chips essential for training AI models and powering companies like OpenAI and Anthropic. With a market capitalization exceeding $4 trillion, Nvidia stands as one of the most valuable companies globally.
The unfolding scandal has taken a financial toll on both Nvidia and Huang. Company shares slid approximately 7% in pre-market trading on Thursday following a Wall Street Journal report that Nvidia’s board was preparing for Huang’s ouster. Overall, Nvidia’s stock has fallen by more than 11% in the past few days.
Jensen Huang, who has been married to Lori since 1985, admitted to an affair in an email to employees on Sunday, following days of speculation about his relationship with the Megaspeed executive. While he acknowledged the affair without directly naming the suspected spy, he denies any knowledge that Alice Huang allegedly worked for the Chinese government. The two were reportedly seen together globally, dining and attending meetings over the past few years. On the same Sunday, Nvidia’s board of directors issued a statement confirming the company was launching an investigation into reports that Huang was the target of a foreign intelligence effort.
Despite the controversy, Jensen Huang has received support from prominent figures, including Donald Trump, who stated Huang had done “an incredible job” and is “an honorable guy.” Other major tech industry players, such as Elon Musk, have also publicly backed Huang.
Huang’s exit from the company he co-founded in 1993 removes a senior figure in Silicon Valley at a time when the AI arms race between the US and China is at an apex. Huang owns more than 870m shares, or about 3.6% of the company and is worth $145bn (£109bn), according to Bloomberg, making him the world’s 13th richest p
