Nvidia CEO resigns amid spying scandal

Nvidia's CEO, Jensen Huang, has resigned over allegations of two extramarital affairs, one of which involved a businesswoman suspected of spying for China, according to US authorities. The company announced on Thursday that Huang had stepped down from his roles as president, CEO, and board member with immediate effect. Executive Vice President and CFO, Colette Kress, has been appointed as interim CEO, retaining her position in that role. Board member Harvey Jones has been appointed as the first-ever board chairman.

The resignation follows reports of Huang's involvement with a former executive from Singapore-based data centre company Megaspeed International, who US intelligence officials suspect of working for China. Huang apologized to his wife and children in a message to Nvidia employees, admitting to being unfaithful. Another alleged affair involved Nvidia's vice-president of healthcare, Kimberly Powell, with whom he was reportedly seen being affectionate at a conference in March.

Nvidia's board had previously launched an independent investigation into allegations of foreign intelligence targeting Huang, stating that there was no evidence to suggest the company's secrets or national security had been compromised. Shares of Nvidia fell by more than 10 percent in pre-market trading following the announcement of Huang's resignation.