Nvidia affair: Jensen Huang, the boss of the American chip giant, has resigned
The emblematic boss of the chip giant is leaving his position with immediate effect amid personal scandals.
Quick Look
- Jensen Huang, CEO and co-founder of Nvidia, has resigned effective immediately following revelations of extramarital affairs and suspicions of espionage.
- Colette Kress takes over as interim manager while the group's shares fall on the stock market.
AI-generated summary
Why It Matters
Jensen Huang has led Nvidia since its co-founding in 1993. The company is a global leader in accelerated computing and artificial intelligence.
Thunderclap in the world of tech. This Thursday, after a meeting of its board of directors, the American chip giant Nvidia announced the resignation of its emblematic boss, Jensen Huang. A decision that has the effect of a bomb, the company with the second largest capitalization in the world being at the forefront in the development of artificial intelligence (AI).
This resignation comes “with immediate effect”, specifies Nvidia in a press release. The interim will be ensured by Colette Kress, currently financial director of the group. “The Board of Directors has launched a recruitment process to find a permanent general manager and will study internal and external applications,” adds the firm. “We will continue the work that has made Nvidia a leader in accelerated computing and AI, and we will seize opportunities as they arise. Our priority remains service to our customers, partners, developers and shareholders,” declared the manager, quoted in the press release.
The 63-year-old businessman, born in Taiwan and co-founder of Nvidia in 1993, had been in the hot seat since the revelation in early November of an extramarital affair with a Chinese business leader, Alice Huang, suspected of being a spy for Beijing. A relationship that Jensen Huang confirmed, apologizing to his family. For its part, the company launched “an independent investigation following recent reports that founder and CEO Jensen Huang was the target of a foreign intelligence operation.” On Wednesday, American media reported that the executive was involved in another extramarital affair, this time with a vice-president of Nvidia, Kimberly Powell, aged 48 and in charge of the group's health division.
Since these revelations, the group's action has entered a zone of turbulence. It has lost some 23% of its value over the past month, going from $228 in mid-October to $174 on Wednesday, November 11. Enough to cause Nvidia to lose more than $1,000 billion in capitalization in just a few days.
What to Watch
AI outlook — possibilities, not facts
Launch of a recruitment process for a new CEO.
Very likely · Within months
Open Questions
- Who will be appointed permanent CEO?
- How serious are the security risks linked to suspicions of espionage?
