Effective immediately, Nvidia CEO Jensen Huang resigns amid affair scandals as AI chip giant names interim leader
Board announces leadership change
Nvidia’s board ousted longtime co-founder, president and CEO Jensen Huang, according to the report. A company press release published Thursday morning said his resignation took effect immediately and named CFO Colette Kress interim CEO.
Huang had led Nvidia since its founding in 1993. Kress, who had been the company’s chief financial officer, is now in temporary charge.
First relationship draws scrutiny
The reports described a relationship between Huang and Alice Huang, an executive at Megaspeed, a Singapore-based cloud provider and major Nvidia customer. The two are not related, the report said.
The New York Times reported that Alice Huang was allegedly a surveillance operative passing information to China’s Ministry of State Security. It said she focused on obtaining information about advanced US AI chips and influencing what technology would be made available to China. Huang told Nvidia employees he had been “unfaithful,” and apologized to his family and shareholders, according to the report.
Second report precedes board meeting
On Wednesday, reports emerged of a second extramarital relationship, this time with an executive who reported directly to Huang. The New York Times, citing five Nvidia workers, identified her as Kimberly Powell, the company’s vice president of healthcare.
The Wall Street Journal then reported that Nvidia’s board was expected to meet as soon as Wednesday evening to consider Huang’s future and possibly remove him. The company announced his resignation the following morning, according to the account.
Nvidia’s influence raises stakes
Nvidia is described as the leading supplier of chips driving AI development and deployment in the United States. Demand for its products often exceeds supply, and its investment portfolio was valued at about $99 billion.
The company’s investments span AI firms, from frontier labs to neoclouds, giving Nvidia significant influence in the sector. Huang had also maintained a close relationship with President Donald Trump; earlier in the week, analysts, venture capitalists and Trump had expected him to remain CEO.
Key points
- Jensen Huang resigned as Nvidia CEO, effective immediately, and Colette Kress became interim CEO.
- Alice Huang, an executive at Nvidia customer Megaspeed, was alleged to pass information to China’s Ministry of State Security.
- Nvidia’s chips and roughly $99 billion investment portfolio give the company significant influence in AI.