The crisis gathered pace over the past week, when reports linked Nvidia co-founder Jensen Huang to two affairs: one with a businesswoman alleged to have ties to Chinese intelligence, and another with an Nvidia executive who reported to him. Huang acknowledged being “unfaithful” in a memo to employees, according to reporting on the company’s response.¹

After news of the second relationship emerged on Wednesday, Nvidia’s board met to consider Huang’s future. By Thursday, the company said he had resigned as CEO, president and board member, effective immediately, ending a 33-year run at the helm. The board named CFO Colette Kress interim CEO and said it would search for a permanent successor.¹ Kress, a company executive since 2013 and a former finance leader at Cisco and Microsoft, pledged to build on the company’s foundations and keep serving customers and shareholders.²

The abrupt handover leaves a leadership gap at a company whose chips underpin much of the AI industry. One report described a sharp fall in Nvidia shares after the resignation announcement, while analysts warned that the departure could unsettle partnerships built around Huang’s personal relationships.³ The same report quoted Morningstar’s Brian Colello saying demand for Nvidia hardware remained strong despite the turmoil.⁶

Reactions split between admiration for Huang’s record and suspicion about how the allegations were handled. AI company chief Aravind Srinivas thanked him for “33 years of bold leadership.”Aravind Srinivas (AravSrinivas)⁴ Elon Musk, meanwhile, replied “Hmm” to a post questioning whether unverified rumors had been used to push out Nvidia’s founder.Elon Musk (elonmusk)⁵

The allegations also carry geopolitical weight. China’s Foreign Ministry spokesperson Mao Ning rejected the espionage narrative, saying the U.S. should stop “fabricating so-called espionage narratives” to justify technology restrictions.⁶ Nvidia’s board now faces the task of finding a permanent chief while addressing investor concerns about succession and oversight.⁶