Nvidia CEO Jensen Huang Resigns Amid Espionage Scandal
Jensen Huang resigned as Nvidia CEO following revelations of affairs with a subordinate and a suspected Chinese spy, triggering federal probes and a massive market sell-off.
Nvidia co-founder and CEO Jensen Huang resigned effective November 12, 2026, following a board investigation into multiple extramarital affairs. One relationship was with Kimberly Powell, Nvidia's vice president of healthcare, and another with Alice Huang, a former executive at the Singapore-based firm Megaspeed. U.S. intelligence officials identify Alice Huang as a Chinese intelligence asset who may have used the relationship to influence AI chip export policies and facilitate the illegal shipment of approximately $7.5 billion in restricted processors to China.
Nvidia appointed CFO Colette Kress as interim CEO and named former Synopsys leader Harvey C. Jones as the company's first board chair. The scandal erased over $1 trillion in market value, causing shares to plunge as much as 14% in a single session. The U.S. Department of Justice and FBI are investigating potential national security breaches and chip smuggling involving Megaspeed and Super Micro Computer.
President Donald Trump defended Huang as an "honorable guy" but later suggested Apple's Tim Cook as a potential successor. Meanwhile, congressional leaders, including Senator Chuck Schumer and Senator Tim Scott, have summoned Huang and Commerce Secretary Howard Lutnick to testify in December. Lawmakers are investigating whether the Trump administration ignored security warnings and if Lutnick stalled the blacklisting of Chinese firms to avoid trade tensions. The Government of China has dismissed the espionage claims as "unsubstantiated" smears.
