Jensen Huang has resigned as Nvidia's chief executive, and the company's finance chief, Colette Kress, has been appointed interim CEO.
Huang's departure followed admissions of being "unfaithful" and allegations that the woman involved was a Chinese spy. The stock experienced significant volatility, initially falling by as much as 14% before recovering some ground, and the company's market value dropped below $4 trillion. US lawmakers now want to question Huang regarding his alleged relationships and potential ties to a Chinese spy who reportedly owned stakes in companies supplying computing power to Nvidia competitor Huawei. Analysts like Jim Cramer suggest that without Huang, Nvidia will be "different," while others raise concerns about Nvidia's leadership crisis and its potential to cause "far-reaching economic and financial damage" due to the company's extensive ties across the AI sector. The board is now searching for a permanent replacement, who will need a rare balance of tech vision and business savvy, particularly given Nvidia's flat management structure.