Nvidia CEO Jensen Huang resigns amid affair, Chinese spy allegations

• Jensen Huang resigned after 33 years as Nvidia CEO; CFO Colette Kress becomes interim chief executive. 
• The New York Times reported in October Huang's relationship with Alice Huang, suspected by US officials of spying for China. 
• Asian technology stocks declined, while several Chinese chipmakers and AMD gained. 

Nvidia chief executive Jensen Huang resigned on Thursday after 33 years leading the artificial intelligence chipmaker, following revelations of two extramarital relationships, one involving a Chinese businesswoman suspected by US officials of spying for Beijing.

Huang's departure comes as the company faces growing scrutiny over its leadership, national security concerns and its business dealings with China. Chief financial officer Colette Kress has been appointed interim CEO.

The controversy began on Oct. 29, when The New York Times reported that Huang had a close relationship with Alice Huang, whom US officials reportedly suspected of working for Chinese intelligence. Beijing rejected the allegations as a smear.

On Nov. 8, Jensen Huang publicly acknowledged having an affair and apologised for being unfaithful to his wife. Nvidia's board subsequently launched an independent investigation into the allegations.

The scandal deepened on Nov. 11, when The New York Times reported that Huang had also been involved in a separate relationship with an Nvidia executive who reported directly to him. The company's board reportedly met to discuss his future before his resignation was announced.

The developments have placed the Trump administration under increasing pressure, particularly over its approach to exporting advanced Nvidia chips to China. Democratic lawmakers have accused the administration of being too accommodating to the company and have raised concerns about potential national security risks.

Commerce Secretary Howard Lutnick has also faced scrutiny over reported disagreements with other senior officials, including Treasury Secretary Scott Bessent, regarding restrictions on chip exports to China.

Trump had repeatedly expressed support for Huang, while the FBI was reportedly investigating the allegations. The president is now likely to face questions about what he knew and when he was informed of the intelligence concerns.

The leadership crisis has also unsettled technology markets. South Korea's Kospi index closed 0.6% lower on Thursday, while shares in Taiwan Semiconductor Manufacturing Company fell about 1.7%.

Meanwhile, Chinese chipmakers Moore Threads, MetaX and Cambricon recorded gains of more than 8%, while US rival AMD rose 4% in early trading, as investors assessed potential opportunities for Nvidia's competitors.

AFP footage shows Alice Huang at dinner hosted by Nvidia CEO

Footage released by Agence France-Presse (AFP) shows Alice Huang attending a dinner hosted by Jensen Huang at a Chinese restaurant in Taipei on May 22, 2025, during Computex, one of the island's major technology exhibitions.

The footage shows journalists gathered outside the restaurant filming the event as Jensen Huang and Alice Huang, dressed in a pink outfit, mingled with other guests inside.

Read more: Nvidia preparing to oust CEO Jensen Huang after espionage scandal: WSJ