Overview
- Nvidia announced Thursday that Jensen Huang has resigned immediately as chief executive, president and director, and the board named Colette Kress interim CEO and Harvey Jones board chair.
- The board launched an independent investigation to determine whether Huang was targeted by a foreign intelligence operation after reports of a relationship with a woman U.S. officials have flagged as a suspected Chinese agent.
- The company faces fast-moving legal and regulatory pressure, including a shareholder class-action accusing Nvidia of failing to disclose material information and ongoing inquiries by U.S. authorities.
- Nvidia’s stock plunged double digits on the news, wiping out hundreds of billions in market value and heightening investor concern about leadership, customer contracts and near-term results.
- Reporting has also raised questions about export-control circumvention after a Chinese university linked to the military reportedly acquired advanced H200 chips through intermediaries, a development the board’s probe and U.S. agencies are expected to examine.