Jensen Huang Resigns as Nvidia Faces U.S. Espionage Probes

Overview

• Jensen Huang resigned from his roles as president, CEO and board member on Thursday, Nov. 12, and the board named Chief Financial Officer Colette Kress as interim CEO with Harvey C. Jones as chairman.
• U.S. intelligence agencies say an executive tied to Singapore-based Megaspeed had links to China's Ministry of State Security, a claim that spurred an FBI review and a Senate Banking Committee request for testimony.
• Markets reacted sharply to the scandal, with Nvidia shares plunging and roughly US$450–500 billion wiped from the company's market value since the revelations surfaced.
• Analysts warn the leadership shock and security probes create near-term risks for supplier negotiations with firms like TSMC, continuity of regulated customer contracts and the company’s planned AI investments.
• The episode builds on earlier investigations into Megaspeed that began in late 2024, includes Singapore’s report that it barred the associate from return, and will test U.S. oversight and Nvidia’s operational continuity when the company reports quarterly results next week.