Nvidia CEO Jensen Huang has resigned as president, chief executive and a board member of Nvidia, effective immediately, amid a scandal over alleged Chinese espionage links and the diversion of advanced AI chips to China. The board accepted his resignation on November 12, ending his 33-year run at the chipmaker he co-founded in 1993. Chief financial officer Colette Kress will serve as interim chief executive while the board searches for a permanent successor.
The resignation follows a board investigation into whether Huang was the target of a foreign intelligence operation, after reports of his relationship with Alice Huang, an executive at Singapore-based Megaspeed, whom US intelligence officials suspect of links to Chinese intelligence. Megaspeed has bought more than $4 billion worth of Nvidia's advanced AI chips since June 2024, and American officials are investigating whether some were diverted to China in violation of US export controls. The company denies wrongdoing.
Now Congress is moving. Senate Banking Committee chairman Tim Scott has asked Huang to testify in public on December 3 and Commerce Secretary Howard Lutnick on December 10, warning of subpoenas if either declines. Huang has agreed to brief Congress before Thanksgiving. Lutnick faces mounting pressure over claims he delayed tougher export restrictions, with reports that senior White House officials are discussing his removal. Nvidia shares fell more than 13 percent after the resignation was announced, and the company reports third-quarter results on November 17.
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