Jensen Huang resigned as Nvidia’s president and CEO following revelations of affairs, including with an alleged Chinese spy.
In a release published by Nvidia, the company confirmed that current executive vice president and CFO, Colette Kress, will serve as interim CEO until a permanent successor to Huang can be named. Kress will also continue to serve as CFO during this time.
“Jensen’s contributions to NVIDIA are profound. NVIDIA is one of the most consequential technology companies in the world. The Board and the company thank Jensen for his immeasurable contributions to the company and the industry,” Nvidia said.
The company’s shares have been in free fall since the news of Huang’s affairs broke, and his departure will likely spur further declines. As of writing, Nvidia’s stock was down nearly 13 per cent on Thursday.
Huang’s affair raised concerns among U.S. national intelligence leaders, leading to an FBI investigation. Further, U.S. lawmakers demanded Huang testify about the allegations, especially given Huang’s efforts to lobby U.S. President Donald Trump to ease restrictions on AI chip sales to China.
China’s Ministry of Foreign Affairs called the spying allegations “pure fabrication” and claimed the reports were an effort to destabilize U.S.-China relations.
On Nov. 11, the New York Times reported on Huang’s second alleged affair, this time with Kimberly Powell, Nvidia’s vice president of healthcare.
Nvidia has played a significant role in the AI industry, with its chips powering much of the technology. Huang’s affairs and departure will likely spur increased scrutiny of Nvidia and its dealings, which have been at the centre of a circular cycle where the company invested in AI companies that would then use the money to buy Nvidia’s chips.
Header image credit: Shutterstock
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