Nvidia chief executive Jensen Huang has resigned amid a scandal over his affair with a suspected Chinese spy, and following claims he also had an extramarital relationship with one of the firm’s executives.
The billionaire, 63, confessed earlier in the week to having an affair with Alice Huang (no relation) who US officials believe is working for Chinese intelligence, an allegation Beijing denies.
In a statement on Thursday the company said: “Nvidia Board of Directors announced today that Jensen Huang has resigned as President, Chief Executive Officer, and a member of the Board, effective immediately.
“Jensen’s contributions to Nvidia are profound. Nvidia is one of the most consequential technology companies in the world.
“The Board and the company thank Jensen for his immeasurable contributions to the company and the industry.”
Colette Kress, the current executive vice president and CFO of Nvidia, will serve as interim CEO while the company permanent replacement.
Nvidia shares plunged more than 13 per cent after US markets opened soon after the company’s announcement on Thursday before recovering marginally.
The giant chipmaker lost more than half a trillion dollars off its market value after news of the fresh scandal broke.
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Nvidia is widely considered one of the most important companies behind the artificial intelligence (AI) boom, given it is the sole manufacturer of a computer chip used in AI tools.
It comes after fresh allegations of a second extramarital affair came to light involving Mr Huang and a senior executive of Nvidia.
Mr Huang is claimed to have had a relationship with Nvidia’s vice president of health care, 48-year-old Kimberly Powell.
Both Mr Huang and Ms Powell are married to other people.
Five former Nvidia staff members blew the whistle on the alleged relationship to The Times, speaking on the condition of anonymity.
According to two former employees, the high-profile tech boss and Ms Powell were captured on video looking affectionate at a hotel in San Jose, California, during an Nvidia conference in March. The publication noted it has not viewed the footage itself.
The video was taken by a bystander, who was then approached by Mr Huang’s security detail, who “made the person an offer to sign a nondisclosure agreement”.
The Times managed to reach Mr Huang on the phone. When asked about his relationship with Ms Powell, he replied, “I don’t think you should be talking to me directly,” then hung up.
Nvidia declined to provide a statement.
Nvidia’s corporate code of conduct instructs staff to “avoid situations where our actions create conflict”, explicitly warning against personal relationships and committing to “promptly investigate reports of misconduct”.
Workplace policies strictly banning managers from pursuing relationships with their direct subordinates are standard across corporate America.
The claims mark a dramatic escalation in scrutiny surrounding the semiconductor titan, who co-founded Nvidia back in 1993.
The report follows separate claims published by The Times last month revealing Mr Huang was under investigation over an affair with a Chinese executive who was later identified by US intelligence officials as a Chinese spy.
Musk weighs in
Elon Musk weighed in on the drama on Thursday, saying he would hire Mr Huang if he is removed from his job.
“That would be an honor,” Mr Musk wrote on X on Thursday, responding to a post from financial news account ZeroHedge that said: “Elon please hire Jensen.”
The Economist had called for the CEO to resign, saying his “position is untenable”.
“He must resign — or be fired,” it argued.
“It remains unclear at what point Nvidia’s boss knew that his government thought her to be a spy, or when the affair ended. Nonetheless, he showed a catastrophic failure of judgment.
Romance with a customer creates an obvious conflict of interest. And given his position as the steward of an American technology that China desperately covets, Mr Huang should have been extra wary. Instead, he lied publicly about the nature of their relationship as recently as last month.”
It said Mr Huang been courted by governments and treated as a rock star for four years.
“Like many powerful leaders, he came to believe that he was too important for the normal rules to apply to him,” it argued. “The same attitude can be found, in even larger doses, within the Trump administration. This culture of impunity must end. It has damaged one of America’s great corporate successes and undermined its national security.”
Accused Chinese spy flees to Taiwan
The woman accused of spying for China during an affair with Mr Huang used a Hong Kong passport to enter Taiwan, the island’s immigration agency said on Wednesday, as authorities investigate the incident.
Mr Huang has admitted to having an affair, reportedly with Alice Huang, a Chinese former executive at Singapore-based Megaspeed who US officials believe was working for Chinese intelligence. Beijing has rejected the spying allegations.
Nvidia’s board announced on Sunday that it had opened a probe into Mr Huang.
“Our government’s relevant agencies are fully informed of the relevant records and information,” National Immigration Agency Director-General Lin Horng-en told reporters, confirming that Alice Huang used a Hong Kong passport to enter Taiwan.
“We were aware of all her relevant entry and exit records.” It is generally easier for Hong Kong passport holders to enter Taiwan than those with mainland Chinese passports, who must also apply for special permission to travel there.
The additional restrictions are partly due to the complex relations between China and Taiwan, which Beijing claims and has vowed to bring under its control.
Taiwan’s Interior Minister Liu Shyh-fang said Ms Huang “did indeed enter the country, but she is currently overseas”.
“If we had known she was a spy, we certainly would not have let her enter Taiwan,” Ms Liu told lawmakers in parliament.
“We will review our procedures, specifically our pre-screening, interim spot checks and interviews, and post-visit measures,” she said.
“As far as we understand, this Ms Huang has had her permit revoked, meaning it is impossible for her to enter Taiwan again.” Taiwanese officials refused to share the dates of Alice Huang’s trips to Taiwan or say how many times she had visited.
On Tuesday, Ms Liu said Taiwan’s “national security units are actively investigating the matter”.
Alice Huang, also known as Huang Le, was seen at a dinner in May 2025 hosted by Mr Huang at a Chinese restaurant in Taipeiduring Computex, the island’s top tech expo.
Journalists stood outside the restaurant filming through glass windows and doors as Jensen Huang and a woman identified as Ms Huang, who was wearing a pink dress, mingled with other attendees.
At one point, Mr Huang can be seen putting his arm around Ms Huang as she kisses him on the right cheek.
