After 33 years at the helm of Nvidia, co-founder and CEO Jensen Huang has resigned. During that time, the company became one of the most important names in the global technology industry.
The board confirmed the news on Thursday and said Huang’s departure takes effect immediately. Chief Financial Officer Colette Kress will lead the company on an interim basis until a permanent successor is chosen, while continuing in her current role.
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The resignation follows a turbulent period for Nvidia, marked by media reports alleging that Huang had two extramarital relationships. According to those reports, one involved Alice Huang, whom U.S. authorities suspect may have ties to Chinese intelligence services.
Another report alleged that Huang had a relationship with an Nvidia employee who reported directly to him. The board had previously announced an independent investigation, overseen by a committee of independent directors and assisted by an outside law firm.
In a November 8 statement, the board said it had no reason to believe that company secrets or U.S. national security had been compromised. It stressed, however, that the investigation would examine all available information.
Financial markets reacted immediately to Huang’s departure. Nvidia shares fell sharply in both premarket trading and Thursday’s session, as investors expressed concern about the company’s future without the leader who had guided it for more than three decades.
Nvidia ranks among the most influential companies in U.S. stock markets and plays a key role in the development of artificial intelligence. Its graphics processors and data-center chips have been among the main drivers of the global boom in the field. For that reason, the change in the company’s leadership matters to the technology sector, financial markets and the strategic interests of the United States.
U.S. House Speaker Mike Johnson described the resignation as a major and unexpected development. He said Nvidia is important not only to the U.S. economy but also to national security, and that the matter is being followed with great interest and attention.
Johnson said he had learned of the departure only minutes earlier, as he headed toward the House chamber. According to him, some members of Congress want to question Huang, and that will happen if the House decides to do so.
The House speaker added that many facts remain to be clarified, so he is reserving personal judgment. Nevertheless, he said that, on a personal level, Huang appears to have done what was right for the company and the country.
Huang’s departure closes an era for Nvidia. He co-founded the company in 1993 and led its transition from making chips for video games to becoming one of the leading forces in the artificial intelligence revolution.
