Nvidia live updates: CEO Jensen Huang resigns, Colette Kress named interim chief

Nvidia CEO Jensen Huang has stepped down from his roles as president, chief executive, and board member. The company has named Chief Financial Officer Colette Kress as interim CEO. Additionally, RTHK News - Finance reports that former Synopsys CEO and board member Harvey Jones has been named the company's first board chairman.

The leadership change follows reports regarding Huang's personal conduct. CNBC reports that Huang has faced scrutiny since revealing an affair. RTHK News - Finance states that the 63-year-old faced pressure after reports that he had an affair with a Chinese businesswoman whom US authorities suspect of spying for Beijing, an allegation China has dismissed as baseless.

RTHK News - Finance also reports that Nvidia's board met Wednesday to consider his ouster following reports that Huang had an extramarital affair with a senior company executive who reported to him. City AM reports that The New York Times identified this executive as Kimberly Powell, Nvidia’s vice president of healthcare.

Nvidia's shares fell significantly following the news. The New York Times reported that shares dropped as much as 14 percent at the market open on Thursday, contributing to a loss of more than $1 trillion in market value this month. CoinDesk reported shares fell 10 percent to $156. The leadership transition has caused fluctuations in global markets, including declines for Taiwan’s TSMC and the Netherlands' ASML.

Brief written by urgent.news from CNBC, The New York Times, RTHK News - Finance, CoinDesk, City AM — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.