# Huang Resigns from Nvidia Amid Spy Scandal

> Nvidia CEO Jensen Huang resigns after admitting to affair with alleged Chinese spy.
- Title: Huang Resigns from Nvidia Amid Spy Scandal · Foreign Policy
- Summary: Nvidia CEO Jensen Huang resigns after admitting to affair with alleged Chinese spy.
- Keywords: nvidia, jensen huang, alleged chinese spy, extramarital affair, stock price drop, congressional testimony, ai chips, us china relations, Foreign Policy
- Source: Foreign Policy — https://foreignpolicy.com/2026/11/12/nvidia-jensen-huang-resigns-ai-china-spy-megaspeed-extramarital-affairs
- Author: Alexandra Sharp
- Read time: 1 min
- Topics: nvidia, jensen huang, alleged chinese spy, extramarital affair, stock price drop, congressional testimony, ai chips, us china relations
## 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.
## Key takeaway

Nvidia CEO Jensen Huang resigned following admission of affair with suspected Chinese spy, triggering a 14% stock drop and congressional testimony.