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Jensen Huang, the CEO of Nvidia, has resigned effective immediately following revelations of multiple extramarital affairs, including one with an alleged Chinese spy. According to The Hill, the company's board of directors has named Colette Kress, the current executive vice president and chief financial officer, as interim CEO.
The scandal erupted after reports surfaced that Huang had an affair with Alice Huang, an executive at Megaspeed International Pte. Ltd., who is suspected of being a Chinese intelligence asset. SiliconANGLE reported that Alice Huang facilitated $7.5 billion in chip sales to China. Additionally, Jensen Huang was involved with Kimberly Powell, an Nvidia executive.
The PBS NewsHour noted that the FBI is investigating the affair with Alice Huang due to national security concerns. Despite the turmoil, Nvidia stated there is "no reason to believe" that national security or company secrets were compromised.
Following the announcement, Nvidia's stock dropped significantly, falling 10% in premarket trading. The company, which commands a substantial share of the AI chip market, is expected to report its third-quarter fiscal 2027 earnings on November 17.