Published November 12, 2026
Nvidia CEO Jensen Huang has resigned from the company following reports of his ties to a suspected Chinese spy and an Nvidia executive.
The $4.2 trillion tech giant lost more than $600 billion in market value this week as the Huang scandal rocked the company, which supplies most of the chips that power advanced AI technology. Shares fell more than 10% in premarket trading Thursday.
The company on Thursday named Colette Kress, NVIDIA’s chief financial officer and executive vice president, as interim CEO.
Nvidia’s board met Wednesday night to discuss the firing of Huang, whose ties to a suspected Chinese spy sparked an investigation by the FBI, the U.S. Congress and the California-based tech giant. Nvidia is also facing a shareholder class action lawsuit.
Alice Huang, an alleged Chinese intelligence operative, is a former executive at Singapore-based MegaSpeed, NVIDIA’s main business partner in Southeast Asia. MegaSpeed, founded in 2023, is under investigation over whether it helped the Chinese company access a powerful inventory of Nvidia chips worth $4.8 billion.
The incident has raised national security concerns in the United States, which has restricted chip sales to China over concerns that the advanced technology could be used by China’s military, intelligence agencies and companies.
Mr. Huang, 63, is the co-founder, president and CEO of Nvidia. A close ally of US President Donald Trump, he has pushed for loosening US restrictions on chip exports to China. President Trump said earlier this week that he had “no knowledge” that Hwang had any ties to intelligence agents.
Huang owns about 3.6% of Nvidia stock, making him one of the richest people in the world. He is a powerhouse in the AI industry that has driven record stock markets and widespread economic gains.
Nvidia’s board of directors, which hired a law firm to investigate Alice Hwang’s affair, met to decide Hwang’s fate on Wednesday, shortly after the New York Times reported that Hwang also had an extramarital affair with the Nvidia vice president who reported to him.
According to Reuters, Nvidia’s stock price has plummeted since the scandal broke, hitting a 14-year low.
