Jensen Huang Steps Down as Nvidia CEO After 33 Years

Jensen Huang, the founder and CEO of Nvidia, has resigned from his position with immediate effect, ending his 33-year tenure at the company. He also stepped down as president and administrator. The decision comes after recent revelations about his personal life, including an admitted infidelity and allegations of involvement with a woman suspected of espionage by US intelligence.

Colette Kress, Nvidia's chief financial officer, will serve as interim CEO while the company searches for a permanent successor. The board of directors will consider both internal and external candidates for the position. Additionally, Harvey Jones, former CEO of Synopsys, has been appointed as the company's first president in its history. Jones expressed confidence in Kress and the leadership team, expecting business operations to continue uninterrupted.

Nvidia's board of directors and the company have expressed gratitude to Jensen Huang for his invaluable contributions to the company and the industry as a whole. In a statement, the company acknowledged Huang's leadership and achievements during his tenure. The sudden departure has sent shockwaves through Wall Street, with Nvidia's stock plummeting over 11% in pre-market trading.

The revelations about Jensen Huang's personal life began with an admission of infidelity on November 7 and 8. According to US intelligence, one of the women involved, Alice Huang, is a Chinese executive suspected of being a spy for Beijing. However, China has categorically denied these allegations. Further reports emerged on November 11 of another alleged affair with Kimberly Powell, Nvidia's vice president of healthcare.

Jensen Huang, 63, founded Nvidia in 1993 and had been serving as CEO since its inception. The company has become a dominant player in the market for chips used to train and operate artificial intelligence models. Huang was known for his casual demeanor and leadership style. His sudden departure has raised questions about the company's future direction and stability.

The impact of Huang's resignation on Nvidia's business operations and stock performance remains to be seen. The company's ability to maintain its position in the competitive AI chip market will be closely watched by investors and industry analysts. As the company transitions to new leadership, it will need to address concerns about stability and continuity.

Nvidia's situation highlights the challenges that can arise when personal and professional lives intersect. The company's response to these developments will be crucial in determining its future success. As the news broke, industry observers noted that Huang's departure would have significant implications for the tech industry, particularly in the AI sector.

Key points

• Jensen Huang resigns as Nvidia CEO after 33 years amid revelations about his personal life.
• Colette Kress takes over as interim CEO while the company searches for a permanent successor.
• Nvidia's stock plummets over 11% in pre-market trading following the announcement of Huang's departure.