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- calendar_today November 12, 2026
Nvidia CEO Jensen Huang Steps Down
Nvidia announced that Jensen Huang resigned as CEO of the AI technology giant effective immediately, following a high-profile scandal involving allegations of espionage and a romantic affair. The decision was revealed by the company's board of directors on Thursday.
Espionage Investigation and Internal Concerns
The resignation comes amid an investigation into Huang's relationship with a woman whom U.S. intelligence agencies suspect of spying for China. As reported by CBS News and first detailed by the Wall Street Journal, Nvidia's board had been preparing to dismiss Huang as the investigation unfolded, according to two sources familiar with the internal deliberations.
Allegations of Impropriety Within Nvidia
Further controversy surrounded the CEO when a New York Times report cited five Nvidia employees who alleged Huang had a romantic involvement with a subordinate, Kimberly Powell, Nvidia's vice president of healthcare. The report stated both Huang and Powell are married to other people, and were reportedly seen behaving affectionately at a March conference, according to two employees. While the Times had not seen the video in question and CBS News could not verify this claim, the allegations contributed to the pressure leading to Huang's departure.
Leadership Transition and Company Response
Following Huang's resignation, Colette Kress, Nvidia's chief financial officer, was appointed as interim CEO while maintaining her CFO responsibilities. Harvey Jones, newly announced as the company's first board chair, stated: "The Board has full confidence in Colette and the leadership team, and we expect the company's operations, customer commitments and product roadmap to continue without interruption."
Kress has been with Nvidia since 2013 and has previously held finance roles at Cisco and Microsoft. In a statement, Kress emphasized, "NVIDIA's strength has always come from its people, and together with our leadership team, I am committed to building on the extraordinary foundation Jensen created over the last 33 years." The board also announced that a search for a permanent CEO is underway, with both internal and external candidates being considered.
Nvidia’s Legacy and Market Impact
Jensen Huang co-founded Nvidia in 1993, building it into a global leader in designing semiconductors that power many major AI firms. The sensitive nature of Nvidia’s technology places the company at the center of international export controls, particularly concerning sales to China. Following news of Huang's resignation and the scandal, Nvidia’s stock experienced a significant decline, with over $700 billion in value potentially erased amid the turmoil.
Looking Ahead
The board's ongoing search for Huang's permanent successor comes at a pivotal time for Nvidia. The company continues to play a vital role in the technology sector while managing the repercussions of its recent executive upheaval.
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Source: cbsnews.com.
