Nvidia CEO Jensen Huang Resigns Amid Espionage Scandal

Nvidia co-founder and CEO Jensen Huang resigned effective November 12, 2026, following an independent board investigation into multiple extramarital affairs and potential foreign intelligence compromise. The scandal centers on Huang's relationship with Alice Huang, an executive at the Singapore-based firm Megaspeed, whom U.S. intelligence identifies as an operative for China's Ministry of State Security. Reports allege Alice Huang used the relationship to influence U.S. AI policy and facilitate the illegal diversion of billions of dollars in restricted Nvidia chips to China.

Internal turmoil intensified after reports emerged of a second affair between Huang and Kimberly Powell, Nvidia's vice president of healthcare. The board appointed CFO Colette Kress as interim CEO and named Harvey C. Jones as the company's first board chair. The leadership crisis erased over $1 trillion in market value, causing Nvidia to lose its status as the world's most valuable company to Apple and Microsoft.

Political fallout has targeted President Donald Trump, who defended Huang as an "honorable guy" despite reports that Secretary of State Marco Rubio briefed him on the espionage risk months earlier. Meanwhile, Commerce Secretary Howard Lutnick faces scrutiny and potential removal for allegedly stalling the blacklisting of Megaspeed. The U.S. Department of Justice and FBI are currently investigating chip smuggling and national security breaches. Huang has agreed to testify before Congress in December regarding his business dealings with China.