Nvidia CEO Jensen Huang resigned on Thursday, November 12, 2026, following reports of extramarital affairs and concerns over national security. The company's board of directors appointed Chief Financial Officer Colette Kress as interim CEO while initiating a search for a permanent successor. The departure follows allegations that Huang had a relationship with a woman identified by U.S. intelligence as a Chinese intelligence asset.
The resignation concluded a period of developments involving U.S. intelligence reports and internal company investigations. In late October 2026, the New York Times reported that Huang had a relationship with a woman at a Singapore-based company, Megaspeed, which purchased Nvidia chips. U.S. intelligence officials reportedly concluded she was recruited by China's top spy agency. Huang admitted to an extramarital affair in a Sunday email to staff, stating he would cooperate with a board investigation.
Further reports alleged Huang had a second affair with an Nvidia executive, Kimberly Powell, the vice president of healthcare. Following these disclosures, Nvidia's stock price fell 4.3% to $166.19 on Thursday after earlier dropping as much as 14.3%. Since the close of trading the previous week, the company has lost nearly $500 billion in market value.
The situation has drawn scrutiny regarding the relationship between the tech industry and the Trump administration. Huang had previously advocated for open trade and for Nvidia to compete in the Chinese market. President Trump, who reportedly knew of the intelligence allegations months ago, initially stated that Huang should remain as CEO, describing him as a "good guy." Elon Musk also publicly offered to hire Huang as the scandal developed.
National security officials and members of Congress are focused on the risk of technology transfer. Nvidia's chips are essential to the development of AI, and allegations that a CEO was targeted by a foreign intelligence asset raise concerns about the integrity of U.S. trade secrets. Rep. Yvette Clarke (D-NY) stated that she is concerned about what the White House knew about these security risks. Democrats are expected to investigate the matter when they take control of Congress in January 2027.
The immediate change for Nvidia’s workforce and customers involves a leadership transition in a company that analysts, such as Stephen Witt, say was tied to Huang’s vision. While customers still require Nvidia’s computing power, the lack of a clear succession plan creates uncertainty for the company's future strategy. Further market tests are expected as Nvidia reports its quarterly earnings on Tuesday, November 17, and as the AI firm Anthropic prepares for an initial public offering as early as next week.