Nvidia CEO Jensen Huang steps down

Nvidia chief executive Jensen Huang is stepping down from the world’s most valuable chipmaker following reports of alleged extramarital relationships that have triggered a board investigation, dealing a potential blow to the artificial intelligence industry.

Chief Financial Officer Colette Kress will serve as interim CEO while the company searches for a permanent successor, Nvidia said on Thursday.

The company also appointed former Synopsys CEO and current board member Harvey Jones as its first chairman.

Huang, who co-founded Nvidia in 1993 and owns approximately 3.6% of the company, will also leave its board of directors.

Nvidia’s shares fell sharply following news of his departure, reflecting investor concerns over the leadership change at a company central to the global AI industry. The chipmaker has a market value of around $4 trillion.

The resignation follows growing scrutiny over Huang’s personal relationships and his links to Alice Huang, a former executive of Singapore-based cloud computing company Megaspeed. US authorities suspect Alice Huang of acting as an intelligence asset for Beijing, although the allegations have not been established in court.

Nvidia’s board launched an independent investigation on November 8 into reports that its chief executive had been targeted by a foreign intelligence operation. The investigation also followed reports of a separate relationship between Huang and a senior Nvidia executive who reportedly worked under him.

Huang has acknowledged being unfaithful to his wife and apologised to his family and colleagues. He has denied knowing that Alice Huang was allegedly connected to Chinese intelligence.

The controversy has raised concerns beyond Nvidia’s corporate leadership, particularly over US-China technology competition and restrictions on the export of advanced AI chips to China.

For years, Huang has been one of the most influential figures in the global technology industry. Nvidia, initially known for its graphics processing units used in gaming, became a central supplier of chips powering artificial intelligence systems and data centres worldwide.

His departure comes at a critical time for the AI industry, as major technology companies continue investing billions of dollars in AI infrastructure amid growing concerns over the sustainability of the investment boom.

Important editorial note: I verified the leadership change against Nvidia’s announcement and current reporting. The company confirmed Huang’s resignation, effective immediately.

The allegations concerning Alice Huang should remain attributed to US authorities and media reports, not presented as established facts.