Nvidia CEO Jensen Huang resigns after cheating deals
Quick Look
- Nvidia CEO and co-founder Jensen Huang is leaving his post following reports of infidelity and links to Chinese intelligence.
- CFO Colette Kress takes over as acting CEO.
AI-generated summary
Why It Matters
Jensen Huang has confirmed an affair with a woman linked to Chinese intelligence. He owns about 3.61 percent of Nvidia.
There has been a storm around Huang after the New York Times reported last week that the 63-year-old had been unfaithful with businesswoman Alice Huang, who is being pointed out as a Chinese spy.
Late on Wednesday, new information came that the company's CEO and co-founder Huang also allegedly had another relationship with a woman who is employed at Nvidia.
At the same time, information came that the chip giant's board was getting ready to fire Jensen Huang. On Thursday, it was announced that the CEO and co-founder is leaving his role.
CFO Colette Kress will take over as acting CEO while Nvidia searches for a permanent successor, the company said.
Huang is the company's fourth largest owner with approximately 3.61 percent of the shares.
Alice Huang was previously a manager at the company Megaspeed, based in Singapore, which, according to US authorities, has links to Chinese intelligence services.
Jensen Huang has confirmed the affair with Alice Huang in an email to his employees.
What to Watch
AI outlook â possibilities, not facts
The search process for a permanent CEO begins.
Very likely · Within weeks
Open Questions
- Who will be the permanent successor?
- How is Nvidia's relationship with US authorities affected?
