Overview
- Nvidia announced Thursday that Jensen Huang has resigned as CEO, president and board member and that CFO Colette Kress will serve as interim chief while Harvey C. Jones becomes board chair.
- The company’s move follows reports that Huang had a relationship with Alice Huang, a former Megaspeed director whom U.S. media and officials say is suspected of helping funnel chips to China, and a separate reported relationship with a direct subordinate, Kimberly Powell.
- Nvidia’s board had engaged outside advisers and begun a search for a successor before Huang’s exit, and the company named experienced internal and external leaders to steady operations during the transition.
- Markets reacted sharply to the news with large share-price losses that erased hundreds of billions in market value, and investors have filed collective lawsuits alleging Nvidia and Huang concealed security risks.
- U.S. officials are reported to be weighing multiple inquiries into Nvidia and linked firms, Megaspeed and Super Micro Computer, while Beijing has rejected the allegations as politically motivated ahead of high-level talks.