From NBC Bay Area · · 1m
Nvidia CEO Jensen Huang resigns after affair
Nvidia CEO Jensen Huang resigns amid national security concerns over alleged spy affair.
In brief
Nvidia CEO Jensen Huang resigns amid national security concerns over alleged spy affair. Nvidia CEO Jensen Huang resigned Thursday after admitting to an affair with Alice Huang, a Chinese businesswoman suspected of spying for Beijing, raising national security concerns. Originally reported by NBC Bay Area.
Resignation announcement
Nvidia CEO Jensen Huang resigned Thursday after admitting to an affair with Alice Huang, a Chinese businesswoman suspected of spying for Beijing.
“Nvidia CEO Jensen Huang resigned Thursday after his extramarital affair raised national security concerns”
National security concerns
U.S. intelligence agencies discovered Huang developed a close relationship with Alice Huang, who fed information directly to Beijing.
“U.S. intelligence agencies discovered that Huang had developed a close relationship with Alice Huang, and determined that she was feeding information directly to Beijing”
Interim CEO appointed
Colette Kress, Nvidia's CFO since 2013, became interim CEO after Huang's resignation.
“The company named Colette Kress, the executive vice president and chief financial officer, as interim chief executive”
Alice Huang's background
Alice Huang was a former executive at Singapore-based Megaspeed International, suspected of being a Chinese government agent.
“Alice Huang, the woman at the center of a suspected spy scandal involving Nvidia’s CEO Jensen Huang, is a former tech executive who used to work for China’s state television”
Megaspeed's response
Megaspeed cooperated with U.S. authorities and hired a U.S. law firm to verify export controls on its chips.
“Megaspeed said Thursday that it has cooperated with the U.S. Department of Commerce’s Bureau of Industry and Security (BIS), which handles enforcement of national security restrictions on technology exports”
Share price impact
Nvidia shares dropped 14% at the opening bell Thursday after Huang's resignation.
“Shares of Nvidia, one of the largest companies in the world, tumbled 14% at the opening bell Thursday”
The main idea
Nvidia CEO Jensen Huang resigned Thursday after admitting to an affair with Alice Huang, a Chinese businesswoman suspected of spying for Beijing, raising national security concerns.
