Nvidia CEO Jensen Huang Resigns Amid Espionage and Affair Scandal

Nvidia founder and CEO Jensen Huang has resigned from all positions at the company he established 33 years ago, effective Thursday, November 12. The board of directors accepted his resignation amidst a growing scandal involving his alleged ties to Alice Huang, an executive at Singaporean cloud company Megaspeed, whom U.S. intelligence agencies suspect of espionage for China. The U.S. Congress is investigating whether sensitive technologies were disclosed to China due to this connection.

This development follows reports of multiple extramarital affairs involving the 63-year-old businessman. Shortly after his resignation, Reuters reported, citing two sources, a third affair with another Nvidia employee. Previously, The New York Times revealed his close relationship with Alice Huang, who is not related to Jensen Huang. The Information, Bloomberg, and the Financial Times also reported that Alice Huang and her family created a network of companies in China and Singapore, one of which, Shanghai Century Litong, purchased $7.5 billion worth of Nvidia chips, including those banned for export.

The scandal began to unfold when the U.S. and Singaporean governments confirmed in October 2025 that Megaspeed was under investigation for allegedly helping Chinese firms, including Alibaba, circumvent U.S. export bans. A secret memo from spring 2026, overseen by Secretary of State Marco Rubio, indicated that Alice Huang had been recruited by China's Ministry of State Security and was involved with the Nvidia CEO.

Nvidia's stock began to decline before Huang's resignation, dropping 8% in over-the-counter trading on November 11 and 11% over five days, resulting in a market value loss exceeding half a trillion dollars. The company's market capitalization is currently around $4 trillion, representing over 6% of the S&P 500 index. Huang had previously admitted to infidelity in a letter to employees on November 8, apologizing to his wife, Lori. President Donald Trump had publicly called him a "great person" and urged him to remain in his post.

Nvidia's CFO Colette Kress will temporarily assume the CEO's duties, while long-time board member Harvey C. Jones has become the first-ever Nvidia board chairman. Huang has agreed to testify before Congress in a closed, recorded session before Thanksgiving, November 26. Three Republican committee chairmen in the House of Representatives are seeking to determine if U.S. national security and sensitive technologies were compromised. Brian Mast, chairman of the House Foreign Affairs Committee, stated that "Nvidia is very important to the U.S., but he has very serious questions to answer."

Investors have expressed concerns about "key person risk" at Nvidia, as approximately 60 top executives reported directly to Huang, who had long resisted formal succession planning. The article also notes that an Israeli, Johnny Srouji, head of Apple's hardware division, was mentioned as a potential successor amidst the scandal.