Jensen Huang resigned as Nvidia's CEO on Thursday after coming under scrutiny for extramarital affairs, CNBC reported. Nvidia said CFO Colette Kress will serve as interim CEO.
According to CNBC, Nvidia shares fell sharply Thursday morning before closing 4% lower, then fell another 2.01% on Friday, closing below $4 trillion in market value for the first time since July 2025. CNBC also wrote that shares attempted to recover Friday after steep losses earlier in the week. The stock fell 12.75% for the week, its sixth straight weekly decline and its longest such streak since 2012, CNBC reported, and was already down more than 20% over the past month.
Huang disclosed an affair in a note to employees on Sunday, and the board announced an investigation the same day. CNBC cited a series of reports that Huang was in a relationship with a Chinese woman believed to be a spy for Beijing. The New York Times reported a relationship with Kimberly Powell, Nvidia's vice president of health care, and Reuters reported another affair with an unnamed employee. Nvidia did not immediately respond to CNBC's request for comment.
Before the resignation, several Wall Street analysts told CNBC Huang's departure could cost Nvidia as much as 20% of its market value. Stephane Houri, head of equity research at ODDO BHF, told CNBC the AI industry's architecture "really depended on the vision" of Huang.
