Jensen Huang resigned as Nvidia president and CEO after reports of an affair with a suspected Chinese spy. He agreed to testify before Congress, and Nvidia shares fell five per cent.
Jensen Huang resigned as Nvidia’s president and CEO early Thursday, ending his 33-year run at the chipmaker, according to the New York Post. Huang’s resignation followed reports of an affair with Alice Huang, an executive at Singapore-based Nvidia customer Megaspeed whom US intelligence suspects of spying for Beijing, and a second affair with Kimberly Powell, Nvidia’s vice president of health care and a direct subordinate.
House Foreign Affairs Committee Chairman Brian Mast (R-Fla.) said Huang’s team confirmed he would appear before Congress after Mast and two other GOP committee chairmen threatened him with a subpoena. The interview is expected to take place behind closed doors before Congress breaks for its Thanksgiving recess next Friday. “He has some very serious questions to answer,” Mast said of Huang, 63.
Republicans have turned their fire on Commerce Secretary Howard Lutnick, whose department never placed Megaspeed on its “Entity List.” Lutnick was sent a classified memo detailing Jensen and Alice Huang’s relationship in May, according to Axios. The New York Times reported that Commerce handed its own Megaspeed probe over to the Justice Department late last year after Nvidia’s general counsel contacted investigators seeking an update on the matter.
A Commerce spokesperson denied that Treasury Secretary Scott Bessent confronted Lutnick in the Situation Room over why Megaspeed had not been blacklisted. “President Trump maintains complete confidence in the secretary and his ability to carry out the position as the most transformative Commerce Secretary in modern history,” a White House official told The Post.
Shares of Nvidia fell five per cent in afternoon trading, more than 30 per cent below the company’s all-time high reached just over a month ago, according to CTV News. Nvidia is now valued at more than US$4 trillion. Shares of rivals like AMD, Advanced Micro Devices, and Broadcom have moved sharply higher. CoreWeave slid more than seven per cent; Nvidia owns a stake of approximately 13 per cent in the data centre and cloud company.
The departure of Nvidia’s longtime leader comes amid a congressional investigation into export controls, a Justice Department probe of Megaspeed, and a sharp sell-off in Nvidia stock that has also weighed on the Nasdaq Composite index.
Sources
This article was drafted with AI assistance and checked against the sources above. Company claims are reported as claims. Cover image is AI-generated.
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Nvidia announced Jensen Huang resigned as President, CEO and board member after reports of two extramarital affairs, including one with an alleged Chinese spy. Colette Kress will serve as interim CEO.
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