Nvidia CEO Jensen Huang Resigns After Extramarital Affair Revelations
AM730 · 3 SOURCESabout 6 hours ago2 MIN
Summary
Nvidia co-founder and Chief Executive Officer Jensen Huang announced his resignation effective immediately on Wednesday, following days of intensifying scandal over revelations of multiple extramarital affairs. The company named Chief Financial Officer Colette Kress as interim CEO while searching for a permanent replacement. Nvidia shares nosedived over 10% at the New York open before trimming losses to around 7% as investors digested the leadership vacuum at the $4 trillion chipmaker.
Key Points
- Huang, 63, stepped down as CEO, president, and board member on Wednesday; he founded Nvidia in 1993 and holds approximately 3.61% of the company
- CFO Colette Kress, who joined Nvidia in 2013, was named interim CEO; she ranked 32nd on Forbes' 2026 list of richest self-made American women with holdings worth $750 million
- US media reported Huang engaged in a romantic relationship with Kimberly Powell, Nvidia's Vice President of Healthcare, 48, during the company's March developer conference in San Jose
- The scandal escalated after Chinese businesswoman Huang Le was accused of exploiting an alleged affair with Huang to obtain restricted Nvidia chips for China via Singapore-based Megaspeed
- The board appointed longtime director Jones as Nvidia's inaugural chairman and stated it would conduct thorough investigations into compliance violations
Why It Matters
The departure of Jensen Huang—who has led Nvidia since its 1993 founding and guided it to dominance in AI chip manufacturing—creates unprecedented uncertainty for the company at the height of its market power. Investors will closely monitor whether the leadership transition disrupts Nvidia's strategic roadmap and competitive position against rivals AMD and Intel in the artificial intelligence semiconductor race .
The departure of Jensen Huang—who has led Nvidia since its 1993 founding and guided it to dominance in AI chip manufacturing—creates unprecedented uncertainty for the company at the height of its market power. Investors will closely monitor whether the leadership transition disrupts Nvidia's strategic roadmap and competitive position against rivals AMD and Intel in the artificial intelligence semiconductor race .