Overview
- Nvidia’s board accepted Jensen Huang’s resignation on Thursday and confirmed he will not remain on the company’s board while CFO Colette Kress steps in as interim CEO.
- The board also named Harvey C. Jones as Nvidia’s first-ever chairman as an independent internal review launched by outside counsel continues.
- U.S. law-enforcement and intelligence interest has grown into reported FBI and Justice Department involvement and requests from congressional committees for briefings or testimony.
- Nvidia shares plunged as much as 14% at the open before partially recovering, reflecting investor concern about leadership disruption at the world’s dominant supplier of AI chips.
- Reporting has focused on Huang’s relationship with a former Megaspeed executive whom U.S. agencies suspect of working for Chinese intelligence, and Megaspeed says it is cooperating while Singapore authorities previously questioned the executive and restricted her travel.