Nvidia leadership: CEO resigns after spy allegations

Nvidia’s board of directors announced on Thursday that Jensen Huang has stepped down as chief executive. The company named its chief financial officer, Colette Kress, as interim CEO immediately. This leadership change follows two weeks of intense speculation and internal review. The board stated it will search for a permanent successor from both inside and outside the firm.

The resignation comes days after the company launched an internal investigation. That probe began after media reports alleged Huang had an extramarital affair with a client. The New York Times reported that U.S. intelligence officials concluded this individual was recruited by China’s top spy agency. NPR has not independently verified those specific intelligence assessments. Huang admitted to the relationship in an email to employees on Sunday. He said he would cooperate fully with the ongoing inquiry.

The situation intensified on Wednesday. Nvidia shares dropped sharply after a report surfaced that Huang also had an affair with an Nvidia executive. That executive reported directly to him. The initial allegations appeared in late October. They described a close relationship between Huang and a Chinese woman working for a Singapore-based chip buyer. The report cited unidentified sources who said U.S. officials viewed her as a spy trying to influence policy.

Senior officials in the Trump administration reportedly knew about the allegations for some time. China’s foreign ministry disputed the narrative. It called the spying claims baseless and part of a smear campaign against the country. The scandal highlights the intersection of corporate leadership and national security. Huang holds an influential role in U.S. artificial intelligence policy. President Trump reportedly called Huang during a September conference keynote to discuss that policy.

Huang built Nvidia into the dominant provider of chips used to train AI systems. The company’s valuation grew from approximately $400 billion in late 2022 to more than $4 trillion today. Analysts note that Huang had not articulated a clear succession plan publicly. In a mid-October interview, he expressed hope that his successor would already work at the company. He addressed speculation about his children, Spencer and Madison, who both work at Nvidia. He said they would have to earn any future leadership role through hard work.

Nvidia is scheduled to report quarterly earnings on Tuesday. The board expects the transition to be challenging. Huang served as the public face of the company’s strategic pivot to AI. Finding a replacement who can maintain that momentum will be difficult for the board. The company now operates without its long-time leader during a critical period in its growth.