Nvidia CEO Resigns Amid Chinese Espionage Scandal
Jensen Huang resigned as Nvidia CEO following an affair with a suspected Chinese spy, triggering U.S. national security probes and congressional hearings.
Nvidia co-founder Jensen Huang resigned as CEO and board member on November 12, 2026, following reports of multiple extramarital affairs. While the board initially supported Huang, a relationship with Vice President Kimberly Powell created a governance conflict. More critically, U.S. intelligence identifies Alice Huang, a former executive at Singapore-based Megaspeed and another of Huang's partners, as an asset of China's Ministry of State Security.
The scandal has sparked a national security crisis over whether sensitive AI chip technology was illegally diverted to China via Megaspeed. The U.S. Department of Commerce is under scrutiny for allegedly failing to blacklist Megaspeed despite classified warnings. Commerce Secretary Howard Lutnick faces potential removal after reports that he resisted such actions. President Donald Trump has defended both Huang and Lutnick, though he faces criticism for inviting Huang on Air Force One in May after being briefed on the espionage risks.
Nvidia's market value dropped by $200 billion, with shares falling up to 15% before stabilizing. The company appointed CFO Colette Kress as interim CEO and Harvey Jones as chairman. Lawmakers, including Senator Elizabeth Warren and House Speaker Mike Johnson, are demanding tighter export controls. Huang and Lutnick are scheduled to testify before the Senate Banking Committee in December.
Meanwhile, the Government of the People's Republic of China rejected the espionage allegations as a pretext for a technological blockade and warned against further export curbs. The tension precedes a scheduled meeting between Presidents Trump and Xi Jinping in Shenzhen.
