Jensen Huang Resigns as Nvidia Chief Executive After Reports of Affairs

Jensen Huang has resigned as chief executive of Nvidia, the chipmaker he co-founded in 1993, according to The Guardian. Nvidia's chief financial officer, Colette Kress, will replace him on an interim basis, meaning until a full-time successor is named.

The resignation followed reports about Huang's personal relationships. Huang admitted to having an affair, according to reports covering the resignation. He has been married to his wife, Lori, since 1985.

The New York Times reported that Huang had a separate extramarital affair with Kimberly Powell, a company employee who was Nvidia's president of healthcare. The newspaper reported that Powell was captured on video being affectionate with Huang at a hotel during a company conference in March.

A second set of reports concerns Alice Huang, a businesswoman who heads Megaspeed, a data centre company based in Singapore. Reports described her as an alleged Chinese spy and an extramarital partner of Huang. Alice Huang is not related to Jensen Huang. Huang denied knowing that she allegedly worked for the Chinese government.

Nvidia's board has appointed the law firm Wachtell, Lipton, Rosen & Katz to conduct a thorough and independent investigation into Huang's relationship with Alice Huang.

Markets reacted quickly. Nvidia shares slid about 7% in pre-market trading on Thursday, which is trading that takes place before the regular U.S. session opens. The drop followed a Wall Street Journal report that the board was preparing to oust Huang. The company has a market capitalization of more than $4tn, meaning the total value of its shares, based on their market price.