From Foreign Policy · Alexandra Sharp · · 1m 50s
Huang Resigns from Nvidia Amid Spy Scandal
Nvidia CEO Jensen Huang resigns after admitting to affair with alleged Chinese spy.
In brief
Nvidia CEO Jensen Huang resigns after admitting to affair with alleged Chinese spy. Nvidia CEO Jensen Huang resigned following admission of affair with suspected Chinese spy, triggering a 14% stock drop and congressional testimony. Originally reported by Foreign Policy.
Huang's Resignation
Nvidia CEO Jensen Huang resigned Thursday amid growing calls for his departure and a substantial drop in the company’s stock price.
Alleged Spy Affair
Huang admitted to an affair with Alice Huang, an executive at Singapore-based data center company Megaspeed, suspected of spying for China.
Second Affair Alleged
Huang reportedly had a separate affair with Kimberly Powell, the company’s vice president of healthcare, which may have violated company code of conduct.
Stock Market Impact
Nvidia shares plummeted 14 percent when trading opened on Thursday, wiping out over $1 trillion in market value.
Interim Leadership
Nvidia finance chief Colette Kress agreed to serve as interim CEO until a replacement is named.
Congressional Testimony
Huang agreed to testify before Congress ahead of Thanksgiving over the espionage scandal.
Company Response
Nvidia’s board said there is no reason to believe Huang’s actions compromised U.S. national security or company secrets.
Megaspeed Statement
Megaspeed CEO Tan Yong Pong stated the company takes U.S. export control laws extremely seriously and will work transparently with the U.S. government.
Trump's Reaction
Trump praised Huang on Truth Social, writing he had done a fantastic job with Nvidia.
Huang's Net Worth
Huang was among the world’s wealthiest people with an estimated net worth of $162 billion prior to the scandal.
Historical Context
Huang was previously honored by U.S. President Donald Trump with the National Medal of Science in 2024.
Stock Market Recovery
Nvidia shares made initial gains later in the day but not enough to reverse the market damage.
The essence
Nvidia CEO Jensen Huang resigned following admission of affair with suspected Chinese spy, triggering a 14% stock drop and congressional testimony.
