Nvidia CEO Jensen Huang Resigns Amid Scandal
Nvidia Corp. (NVDA) announced today that co-founder Jensen Huang is resigning from his position as CEO after 33 years, with Chief Financial Officer Colette Kress stepping in as interim CEO. The company’s stock fell as much as 14% after the news but has since stabilized, currently down 5%.
Huang’s departure follows allegations of multiple affairs, including one with Alice Huang, an executive linked to a supplier under investigation for potential ties to Chinese intelligence. Additionally, reports indicate that Nvidia’s export compliance is under scrutiny from U.S. officials. The company will face further pressure as it prepares to report earnings on November 17, where sales are projected to rise 91% and earnings by 90%.
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