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Within a week of admitting infidelity, the co-founder has left the company he led for 33 years; his alleged links to a suspected Chinese intelligence asset remain under scrutiny in Washington.
Jensen Huang has resigned as president, chief executive officer and board member of Nvidia, effective immediately, ending a 33-year run as head of the AI chipmaker he co-founded in 1993. The announcement came on Thursday, November 12, four days after he admitted being unfaithful to his wife. Hours later, a new report alleged that he had a third extramarital relationship, this time with another Nvidia employee. Nvidia declined to comment on that report, and Huang and the company’s board did not respond to requests for comment.
Who Is Running Nvidia Now
Nvidia’s board accepted Huang’s resignation on Wednesday, the company said in a regulatory filing. Chief Financial Officer Colette Kress has taken over as interim CEO and will continue as CFO. The company is expected to run a wider search for a permanent successor. The board has also named Harvey C. Jones, a managing partner at Square Wave Ventures and former CEO of Synopsys, as its first-ever chair. Jones has been a director since 1993.
The company thanked Huang for his “immeasurable contributions” to Nvidia and the industry. The board had been criticised for not having a chair or an obvious successor, and Huang had about 60 direct reports.
The Third Report
According to a news agency report published on Thursday, two people familiar with the matter said Huang had an intimate relationship with a second Nvidia employee. The report did not name her and said she could not be reached for comment. This brings the number of reported relationships linked to the 63-year-old to at least three. These are allegations based on unnamed sources, and Huang has not commented on them.
The Three Allegations at a Glance
| Allegation | Reported on | Status |
|---|---|---|
| Close relationship with Alice Huang, a Megaspeed executive US officials believe is a Chinese spy | Oct 29 onward | Huang acknowledged infidelity on Nov 8 without naming anyone; China denies the spy claim |
| Relationship with Kimberly Powell, Nvidia’s vice president of healthcare, who reports to him | Nov 11 | Based on five current and former employees; not confirmed by Huang, Powell or Nvidia |
| Relationship with another, unnamed Nvidia employee | Nov 12 | Based on two people familiar with the matter; not confirmed |
Alice Huang is not related to Jensen Huang. Nvidia said on October 29 that Huang’s interactions with her were not unusual, as meeting customers is part of a CEO’s job.
The National Security Questions
The scandal matters beyond the personal. Reports say US officials circulated a memo this spring warning that Alice Huang was working for China’s Ministry of State Security, and that President Donald Trump was briefed on intelligence about her relationship with Huang in late 2025. The Chinese Foreign Ministry has called the spy claims unsubstantiated and a smear.
Megaspeed, a Singapore-based AI infrastructure company, reportedly bought about $4.8 billion of Nvidia chips over two years. The US and Singapore have investigated it since October 2025 over suspicions that chips were being diverted to China, and reports say the Justice Department has since taken over the federal inquiry. Other reports say a network of companies linked to Alice Huang facilitated large purchases of Nvidia chips, and that Nvidia’s top lawyer contacted a US Commerce Department official in 2025 about the probe. Nvidia previously said it had no reason to believe products had been diverted. The espionage allegations remain unproven.
On November 8, Nvidia’s board announced an independent investigation into reports that Huang had been the target of a foreign intelligence effort. It said at that stage it had no reason to believe national security or company secrets had been compromised. Whether that investigation continues after his exit has not been stated in the reports reviewed.
Congress
Three Republican committee chairmen asked Huang on November 5 for a closed-door briefing on the allegations, and the chair of the House China committee had said he would likely subpoena him if he refused. Reports on Thursday said Huang has now agreed to appear before Congress. One report also said the FBI is looking into the matter, which is not confirmed in other coverage.
Markets and Legal Fallout
Nvidia shares fell about 8 per cent in after-hours trading on Wednesday and were down about 11 per cent over five days. A shareholder class action has been filed, alleging that the company and Huang inflated the share price by not disclosing the affair. The company has not publicly responded to the suit in the reports reviewed.
Huang, the largest individual shareholder, had been seen as central to Nvidia’s strategy and its relationship with customers, chip suppliers and governments. A sudden change of leadership comes ahead of the company’s third-quarter results, scheduled for November 17.
Trump’s Position
On November 8, before the second and third reports, President Trump said he had not spoken to Huang about the matter and called him a fine person, adding that you never know what is going on. Asked whether Huang should remain as chief, he said he thought so.
Timeline
| Date | Development |
|---|---|
| Oct 29 | Report that US officials were concerned about Huang’s relationship with a Megaspeed executive |
| Nov 5 | Three House chairmen seek a closed-door briefing |
| Nov 8 | Huang admits infidelity; board announces independent investigation |
| Nov 9 | China calls the espionage claims unsubstantiated; Nvidia shares fall |
| Nov 11 | Report of a second relationship with Kimberly Powell; board reported to be preparing to oust Huang |
| Nov 12 | Huang resigns; Kress named interim CEO; Jones named chair; report of a third relationship |
| Nov 17 | Nvidia scheduled to report Q3 results |
What to Watch Next
The key questions are who becomes Nvidia’s permanent CEO, what the board’s investigation finds, what Huang tells Congress and when, and how the company’s China business and US export policy are affected. Until there are confirmations, the second and third relationships remain allegations and the espionage claims remain unproven.
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