Nvidia Boss Jensen Huang Resigns as Second Affair Allegations Emerge

Nvidia co-founder and Chief Executive Officer Jensen Huang has resigned from the company following revelations about two extramarital relationships that triggered a leadership crisis at the global technology giant.

The company confirmed his departure on Thursday, November 12, bringing an end to Huang’s 33-year tenure at the helm of the chipmaker he co-founded in 1993. He has also relinquished his position on the company’s board of directors.

Nvidia’s Chief Financial Officer, Colette Kress, will take over as interim chief executive while the board begins searching for a permanent successor. The board has also appointed longtime director Harvey C. Jones as its new chairman.

Huang’s resignation comes after reports of two extramarital affairs, including one involving Alice Huang, a businesswoman and former senior executive at Singapore-based data centre company Megaspeed.

United States intelligence officials have reportedly suspected Alice Huang of having links to China’s Ministry of State Security. Reports also alleged that Megaspeed was connected to the movement of restricted Nvidia chips to Chinese companies. Beijing has rejected the espionage allegations.

Huang acknowledged in a message to employees earlier this week that he had been unfaithful to his wife, taking responsibility for his conduct. He, however, denied knowing that Alice Huang was allegedly connected to Chinese intelligence.

A second controversy emerged after The New York Times reported that Huang had also been involved in a relationship with Kimberly Powell, Nvidia’s vice president of healthcare, who reportedly worked under him. The report cited people familiar with the matter, although the allegations have not been independently verified by Reuters.

The revelations prompted Nvidia’s board to initiate an independent investigation into reports that Huang had been targeted by a foreign intelligence operation. The board had initially expressed confidence in his leadership.

Huang’s departure has unsettled investors, with Nvidia shares falling sharply amid concerns about the company’s future leadership. Reuters reported that the stock fell more than 12 per cent, threatening to wipe out about $500 billion in market value.

Huang’s exit marks a major turning point for Nvidia, whose chips have become central to the global artificial intelligence industry. The company is scheduled to release its quarterly financial results on November 17.