The crisis began with an affair that had implications far beyond Nvidia’s boardroom. On Nov. 8, Huang acknowledged being unfaithful, while U.S. intelligence officials reportedly suspected Alice Huang, a Chinese businesswoman with ties to a data-center company, of working for Beijing. Nvidia’s board hired outside counsel to investigate, but said it had “no reason to believe national security or company secrets were compromised.”¹ China has denied the spy allegation.²

The first report threatened Huang’s position, but he initially appeared likely to survive the backlash. That changed Wednesday, when a second affair was reported—this time with a senior Nvidia executive who reported directly to him. The added allegations intensified scrutiny of Huang’s conduct and the board’s response.³

On Thursday, Nvidia announced Huang’s resignation, effective immediately, ending a 33-year run at the company he co-founded. CFO Colette Kress was named interim CEO as the board began searching for a permanent successor. Kress said Nvidia’s “strength has always come from its people” and pledged to build on the foundation Huang created.⁴ Board chair Harvey Jones said the leadership team and company operations would continue without interruption.⁵

The departure drew both gratitude and skepticism. Perplexity CEO Aravind Srinivas thanked Huang for 33 years of leadership and praised his support for founders.Aravind Srinivas (AravSrinivas)⁶ Elon Musk, amplifying a criticism of the reports, questioned whether rumors had been presented as fact and said the episode raised “serious corporate governance issues.”Elon Musk (elonmusk)⁷

Investors, meanwhile, faced immediate uncertainty: Nvidia shares fell for a second day after the resignation, and HSBC downgraded the company to hold, citing the wait for a permanent succession plan.¹