Jensen Huang is resigning as Nvidia's CEO after 33 years and giving up his board seat, ITdaily reports, citing Reuters. According to the report, the resignation followed a full day of deliberation by the board. CFO Colette Kress becomes interim CEO while the company searches for a permanent successor, and Harvey C. Jones becomes board chairman. ITdaily says Huang holds 3.61% of Nvidia.
The New York Times reported that Huang had a relationship with Kimberly Powell, Nvidia's vice president for Healthcare, according to ITdaily. ITdaily says Powell reportedly reports to Huang and that such a relationship is prohibited under Nvidia's internal code of conduct. Earlier this week, Huang's affair with Alice Huang (no relation) became public. She is CEO of Singapore's Megaspeed, a company US authorities suspected of channeling Nvidia GPUs to China. ITdaily writes that a US security services investigation found she had been recruited as a spy by China, and says it is unclear whether any trade secrets were leaked. After those first revelations, Nvidia's board had opened its own investigation and appointed an external lawyer.
ITdaily reports that Nvidia opened 13% lower on the Nasdaq at about $150, down from $228 a month ago, and that the stock had fallen about 37% since the revelations began. The outlet notes that Nvidia's data center segment brought in $89 billion last quarter, and it says demand for Blackwell accelerators will not drop immediately.
