Nvidia CEO Resigns After Reported Affairs, Including Alleged Chinese Asset Link; Jensen Huang’s $470 Billion Affair

Huang leaves Nvidia leadership

Nvidia announced Thursday that Huang had resigned as chief executive and board member, effective immediately. Colette Kress, the company’s chief financial officer and executive vice president, will take over temporarily as CEO.

The board said it would assess both internal and outside candidates for the permanent position. The resignation followed reports of two affairs, including a relationship with a woman intelligence officials reportedly believed was a Chinese asset, and another with an executive who reported to Huang.

In a Sunday statement, Huang apologized to his wife and children, saying he had been unfaithful and that his actions had hurt them. He did not identify the person involved.

Congressional scrutiny grows

House Foreign Affairs Committee Chair Brian Mast said Thursday that Huang had agreed to testify before Congress. Mast described a likely session as a recorded, transcribed video under oath involving several committees, but gave no date and did not say if it would be public.

Lawmakers are preparing to examine what President Donald Trump knew about the alleged Chinese spying. Sen. Chuck Schumer called for answers from Huang and Nvidia, and said the administration should account for its response to the reports.

Members of both parties are also expected to question Commerce Secretary Howard Lutnick about reports that he received a highly classified warning concerning Huang’s alleged relationship. The Commerce Department oversees approvals for exports of advanced chips and semiconductors, an area already drawing criticism over sales to China.

Disputed accounts of warnings

The New York Times reported in October that Trump had been briefed a year earlier on surveillance indicating that a woman known as Alice Huang was believed by U.S. intelligence to be a Chinese government spy. The Times said Trump did not act on the information at the time.

The Times also reported that Secretary of State Marco Rubio oversaw an intelligence memo last spring warning Trump and senior Cabinet officials about the assessments. Trump denied seeing that memo and said he had not known of the national security concerns when he invited Huang on a May trip to China.

Trump said Monday that Huang told him he had no idea the woman was an operative for Beijing. A White House spokesperson referred questions about the administration’s handling to Trump’s remarks and rejected the sources behind the reports.

Markets and succession questions

Nvidia shares dropped 10% in premarket trading after the resignation announcement and fell 13% as markets opened Thursday. Trump praised Huang after he stepped down and suggested former Apple CEO Tim Cook as a possible replacement.

The company has not announced a permanent successor. Its search will take place as lawmakers examine the allegations and the government’s handling of information about them.