Nvidia CEO Jensen Huang Resigns Amid Espionage Scandal
Nvidia CEO Jensen Huang resigned following revelations of affairs with a suspected Chinese spy and a subordinate, triggering federal probes and a massive market sell-off.
Nvidia co-founder and CEO Jensen Huang resigned effective November 12, 2026, following a series of personal and national security scandals. Huang admitted to multiple extramarital affairs, including a relationship with Kimberly Powell, a vice president reporting directly to him, and Alice Huang, a former executive at the Singapore-based firm Megaspeed. U.S. intelligence officials identify Alice Huang as a Chinese operative who may have used the relationship to influence U.S. AI policy and facilitate the illegal diversion of approximately $7.5 billion in restricted chips to China.
The resignation triggered a massive market sell-off, erasing hundreds of billions of dollars in market value and causing Nvidia to lose its status as the world's most valuable company. The board appointed CFO Colette Kress as interim CEO and named Harvey C. Jones as the company's first board chair. An independent investigation led by the law firm Wachtell, Lipton, Rosen & Katz is currently examining whether company secrets or national security were compromised.
The scandal has evolved into a political crisis for the Trump administration. Senator Chuck Schumer and other lawmakers allege that President Donald Trump ignored intelligence briefings about Alice Huang's status as a spy while maintaining a close relationship with Jensen Huang. Additionally, Commerce Secretary Howard Lutnick faces scrutiny for allegedly stalling the blacklisting of Megaspeed despite warnings from the Treasury and State Departments. The Department of Justice and FBI are conducting multiple probes into chip smuggling and espionage. Huang has agreed to testify before congressional committees in December.
