AI-generated illustration; not a photograph of the reported event.
- calendar_today November 12, 2026
Nvidia CEO Jensen Huang Resigns After Scandal
Jensen Huang, the co-founder and CEO of technology giant Nvidia, has resigned following reports of multiple extramarital relationships, including one involving a suspected Chinese agent and another with a junior executive at Nvidia. This marks a dramatic shift for a company that has been a major player in the global AI investment boom.
Board Response and Interim Leadership
In the wake of Huang’s resignation, Nvidia’s board appointed Colette Kress, Executive Vice President and Chief Financial Officer, as Interim Chief Executive Officer. Kress, who has served as CFO since 2013 and previously worked at Cisco and Microsoft, is widely respected among investors and financial analysts. The board also announced a new role of chairman, which will be filled by Harvey Jones, a former CEO of Synopsys, signaling a major change in the company’s governance model previously centered on Huang’s leadership.
Details of the Allegations
Huang’s departure follows multiple reports. According to The New York Times, he engaged in a relationship with a married healthcare executive who reported directly to him, a violation of Nvidia’s code of conduct. Additionally, reports have surfaced alleging an affair with Alice Huang, a businesswoman who held a senior position at Megaspeed, a company based in Singapore suspected to be smuggling Nvidia chips into China. Alice Huang has been described by U.S. officials as a suspected agent for China’s intelligence services. Both incidents contributed to calls for heightened scrutiny from Washington and sparked demands for Huang to testify before officials regarding the alleged foreign intelligence links.
Company Investigation and Public Response
Nvidia’s board announced it is conducting an internal investigation into whether Huang was targeted as part of a foreign intelligence operation, hiring a former acting U.S. attorney and his law firm to lead the inquiry. Huang admitted to personal misconduct in a memo to employees, stating, “I was unfaithful to my wife. My actions hurt her and our children... I am deeply sorry.”
China has denied the espionage allegations, calling them “purely unsubstantiated and directed at smearing China.”
Impact on Nvidia and Market Performance
Following the board’s announcement, Nvidia shares plunged more than 11%, erasing nearly $500 billion in paper value earlier in the week. The stock drop comes at a time when Nvidia, now the world’s second largest public company, is valued at over $1 trillion due to high demand for its GPU chips that fuel AI developments across industries. The leadership shake-up leaves questions about the future direction of the company as it navigates these challenges.
Legacy and Next Steps for Nvidia
Jensen Huang leaves a legacy of transforming Nvidia from an idea conceived at a Silicon Valley Denny’s in the early 1990s into a global chip powerhouse. He was widely regarded as the face of the AI industry, frequently appearing alongside influential leaders. The board recognized his contributions, stating, “Jensen’s contributions to NVIDIA are profound.” Meanwhile, Nvidia’s board will begin a formal search for a permanent CEO, considering both internal and external candidates as the company enters a period of uncertainty amid ongoing investigations and leadership transition.
Source: nbcnews.com.
