Jensen Huang resigns as Nvidia CEO

Nvidia CEO Jensen Huang announced his resignation from the company on Thursday, following a series of events that have cast a shadow over the once most valuable company in the world. The chipmaker's CFO, Colette Kress, will take on the role of interim CEO, retaining her previous position. Huang will also relinquish his position as board chair, with Harvey Jones, the former CEO of Synopsys, appointed as Nvidia's first independent board chair.

The decision to step down came less than a week after Huang admitted to an affair with a woman suspected of being a Chinese spy. Multiple media reports revealed that Huang had another extramarital affair with a subordinate, making his position at the company untenable. Huang founded the company 33 years ago.

Kress expressed her commitment to building on the foundation Huang created over the past three decades, stating that they will continue advancing the company's work in accelerated computing and AI. The company's focus remains on serving customers, partners, developers, and shareholders.

Following the announcement, Nvidia's stock plummeted more than 10% in pre-market trading.