Nvidia's co-founder and CEO Jensen Huang has resigned immediately after 33 years at the helm of the AI chipmaker. The company announced the departure of Huang, who will step down from his roles as president, CEO, and board member. CFO Colette Kress has been named interim CEO, while Harvey C. Jones becomes the first board chair.
Huang's resignation follows revelations of two extramarital affairs, including one with a woman accused of spying for China. The scandal prompted an independent investigation into alleged relationships and claims involving a suspected Chinese intelligence asset. Nvidia shares dropped over 10% in trading, reaching $156, marking a sharp decline.
The company assured that operations, customer commitments, and product development will continue without disruption. A search for a permanent CEO is now underway. Huang's departure marks a significant shift for the tech giant, which has been a leader in AI and semiconductor innovation.
Nvidia's leadership change comes amid growing scrutiny of executive conduct and corporate ethics. The company faces ongoing challenges in maintaining its market position and navigating geopolitical tensions. The transition to a new leader will be closely watched by investors and industry analysts.
