Jensen Huang, co-founder and former CEO of Nvidia, admitted to cheating on his wife of 40 years in affairs that triggered his resignation and a national security investigation. U.S. officials believe one of Huang's romantic interests was Alice Huang, a Megaspeed executive and alleged Chinese spy passing information to Beijing. Megaspeed, a Singapore-based AI infrastructure company, purchased $4.8 billion worth of Nvidia chips over two years. The U.S. and Singapore have previously investigated Megaspeed for illegally sharing chips with China, with the Justice Department taking over the federal probe.
Reports emerged Wednesday that Huang had an extramarital relationship with Kimberly Powell, Nvidia's vice president of healthcare who reports directly to him. By Thursday morning, Huang had stepped down as CEO after 33 years leading the company he co-founded. Reuters subsequently reported Huang had a third affair with another unnamed Nvidia employee.
Nvidia's board accepted Huang's resignation on Wednesday. Colette Kress, the company's CFO, became interim CEO while retaining her financial role. Harvey C. Jones, a managing partner at Square Wave Ventures and former Synopsys CEO, was appointed the company's first-ever board chair. Jones has served on Nvidia's board since 1993.
Huang confirmed he will testify before Congress before Thanksgiving on November 26, with the session expected to be behind closed doors but recorded and transcribed. House Foreign Affairs Committee Chairman Brian Mast said Huang "has some very serious questions to answer." Senator Tim Scott requested Huang and Commerce Secretary Howard Lutnick both testify before the Senate Banking Committee.
Representatives Richard Neal and Senator Ron Wyden sent a letter to Lutnick stating the Trump administration was briefed on Huang's relationship with an alleged Chinese spy but did not acknowledge the national security threat. The letter alleged that despite learning of the relationship last fall, Trump granted Nvidia permission to sell advanced H200 AI chips to China in December 2025. On Sunday, President Trump expressed support for Huang, saying "I think so. Oh yeah, sure" when asked if Huang should remain Nvidia's chief.
Nvidia stock fell about 8% in after-hours trading Wednesday and is down 11% over five days. Huang has about 60 direct reports and the company has not had an obvious successor or succession plan in place.