Unlike other larger-than-life tech founders, Jensen Huang lacked super-voting shares in Nvidia, making it easier for him to lose control of the company (Forbes)

Jensen Huang has resigned from Nvidia following allegations that he enabled two chip smuggling scandals and engaged in multiple extramarital affairs, including one with a chip executive identified by U.S. intelligence as a suspected Chinese spy. The Verge reports that Huang had no deputies and previously indicated he had no succession plan.

Forbes notes that, unlike tech CEOs such as Mark Zuckerberg, Michael Dell, and Evan Spiegel, Huang lacked super-voting shares, which made it easier for him to lose control of the company.

A petition calling for Huang’s reinstatement has gathered more than 115,000 signatures, including current and former employees and shareholders. Notable supporters include Elon Musk, Amjad Masad, and Tim Sweeney. The petition expresses concern that Huang was removed without due process and demands the board bring him back during an independent investigation. Nvidia has appointed CFO Colette Kress as interim CEO.

In the wake of the resignation, CNBC Technology reports that two Nvidia investors holding approximately $2.13 billion in stock are calling for a deliberate leadership search. The Verge notes that Huang’s departure could potentially disrupt the U.S. AI industry and the stock market, as Nvidia represents about 6 percent of the S&P 500. On Friday, Nvidia's stock fell 2 percent.

Brief written by urgent.news from Techmeme, TechCrunch, CNBC Technology, SCMP Tech, The Verge — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.