Nvidia CEO Jensen Huang resigns amid alleged spy scandal
The AI chipmaker's stock value dropped by $550bn following revelations of extramarital affairs involving the co-founder.
Jensen Huang resigned as chief executive, president, and board member of Nvidia on Thursday, November 12, 2026, according to The Hindu. The decision follows revelations regarding two extramarital affairs, including one with a woman suspected of being a Chinese intelligence asset.
Huang, who co-founded the company and served as its leader for 33 years, admitted on Sunday to being unfaithful to his wife. One alleged relationship was with Alice Huang, an executive at the Singaporean firm Megaspeed. The New York Times reported that Alice Huang has been suspected of being an intelligence asset for China, though China has rejected these allegations as a smear.
A second alleged affair involved Kimberly Powell, an Nvidia executive who reported directly to Huang. Following the news, Nvidia's stock market value fell by $550bn in five days, and shares plunged 10 per cent in premarket trading on Thursday.
Nvidia Chief Financial Officer Colette Kress has been named interim CEO while the board considers internal and external candidates for a permanent replacement. The company stated it has no reason to believe national security or Nvidia secrets were compromised, but pledged an independent inquiry.
US lawmakers, including Senators Elizabeth Warren and Chris Coons, have demanded that Huang brief Congress on the matter. US Attorney General Todd Blanche said on Thursday that the Department of Justice has not yet drawn conclusions regarding whether Alice Huang engaged in espionage.