Jensen Huang resigns as Nvidia CEO

Summary

• Nvidia CEO Jensen Huang resigned Thursday after extramarital affairs involving an alleged Chinese spy raised national security concerns.
• The board named CFO Colette Kress as interim CEO & appointed Harvey C. Jones as the company's first-ever chairman.
• Nvidia shares plunged 10% in premarket trading following the announcement of Huang's departure.
• Media reports indicated Huang had an affair with Alice Huang, a former Megaspeed executive suspected of feeding information to Beijing.
• A second affair with an Nvidia employee who reports directly to Huang was also reported on Wednesday.
• Megaspeed International stated it takes U.S. export control laws seriously & pledged full cooperation with U.S. government authorities.
• Nvidia maintains it has no reason to believe national security or secrets were compromised but is conducting an inquiry.
• Megaspeed's assets surged 90-fold to nearly $3 billion & revenue jumped to over $294 million in 2024.
• U.S. President Donald Trump announced an FBI investigation into the matter last Sunday.
• China denied attempts to ensnare Huang, who recently secured approval to sell H200 chips to China in January.