After days of controversy, Nvidia CEO Jensen Huang has resigned

Nvidia Corp.’s board is preparing to remove CEO Jensen Huang following multiple extramarital affairs, according to the Wall Street Journal. The board convened on Wednesday to deliberate Huang’s future, sources familiar with the matter told the Journal. Huang had admitted to an affair with Alice Huang, a woman suspected of being a Chinese spy, in a disclosure that exposed Nvidia's lack of a succession plan for its CEO.

This revelation underscored the deep connection between Huang, 63, and the company, which has thrived under his leadership. Huang’s departure would have far-reaching implications, not just for Nvidia’s operations but also for the AI industry, as the CEO is a key figure in the AI boom and a staunch advocate for the technology. Nvidia declined to comment on the matter, and the company's shares fell 8% in extended trading after closing at $173.73 on Wednesday.

Earlier reports suggested Huang also had a relationship with Nvidia’s vice president of healthcare, Kimberly Powell, who also didn't comment on the allegations. Huang's previous affair with Alice Huang, an executive at Megaspeed International, a Singapore-based firm that Nvidia relies heavily on, came to light on Sunday. Megaspeed and Nvidia have denied any wrongdoing. Beijing has dismissed allegations of Chinese espionage.