Jensen Huang has resigned as Nvidia’s CEO after 33 years at the company, the board said on Thursday, and CFO Colette Kress will serve as interim CEO, per CNN. His exit came after reports that the board was preparing to remove Huang following news of an alleged second affair, as reported by The Hill. The board had also brought in former federal prosecutor Joon Kim to lead an investigation into reports that Huang had been targeted by a foreign intelligence operation.
The alleged second affair involved Kimberly Powell, Nvidia’s vice president of healthcare, according to a report by The New York Times, which cited five people who had worked at the company. Huang previously admitted that he was unfaithful to his wife of 41 years, Lori Huang, in a company memo reported on Sunday.
The news added to growing instability at the tech giant, which is a major player in the AI industry. Shares dropped roughly 8.3 percent in after-hours trading on Wednesday, falling below $160 per share, a level not seen since June 2025. The stock had traded above $200 just a week earlier and reached an all-time high of $243.37 on October 6.
The first reported affair had already caught Washington’s attention
Nvidia’s stock previously dipped after reports surfaced about an affair between Huang and Alice Huang, a former executive at Singapore-based chip company Megaspeed, an Nvidia customer. U.S. intelligence officials reportedly believe Alice Huang is a Chinese spy. The situation has drawn attention on Capitol Hill, where lawmakers from both parties have called for Nvidia investigations and cited the affair as a reason to support stricter export controls on Nvidia chips.
President Donald Trump stood by Huang despite the mounting pressure. On Sunday, Trump defended the Nvidia CEO, telling reporters that he viewed him as an honorable guy. While acknowledging the situation, he said, “I just know he’s a fine person, but you never know what is going on.”
Nvidia’s board first announced an independent investigation after reports that Huang had been the target of a foreign intelligence effort, according to a board statement. A committee of independent directors, assisted by outside counsel, oversaw that inquiry.
At the time, the board said it had no reason to believe that national security or Nvidia secrets were compromised, and it expressed confidence in Huang and his leadership team. The board also said it prioritizes U.S. national and economic security, which it called paramount to the interests of Nvidia and its shareholders.
Published: Nov 12, 2026 01:45 pm