‘I hope you die’: Inside Jensen Huang’s terrifying closed door meetings

Jensen Huang, the co-founder and former CEO of Nvidia, has resigned after 33 years leading the company. The resignation came as the board considered removing him. Colette Kress assumed the role of interim CEO following Huang's departure. Nvidia's shares plummeted more than 13% at the opening of trading on Thursday, as investors grappled with a leadership change, fresh allegations, and concerns about the AI boom's sustainability.

The Wall Street Journal reported on Wednesday that the board was preparing to remove Huang, and CNBC confirmed this information late in the evening. The board had been meeting to decide his future throughout the night. Reuters also reported that the board had been weighing his future before his resignation was announced.

Huang co-founded Nvidia in 1993, and his 33-year tenure as CEO concluded with his resignation. The board initiated an independent investigation into allegations that Huang had been the target of a foreign intelligence effort on November 8. The investigation, conducted by Wachtell, Lipton, Rosen & Katz, is still ongoing, and the findings have yet to be reported.

Two separate reports concerning Huang's personal relationships have contributed to the pressure surrounding his departure. The first report revealed that Huang was romantically involved with Alice Huang, who is believed by U.S. intelligence officials to be a spy for China's Ministry of State Security. The New York Times reported that Huang had a relationship with Kimberly Powell, Nvidia's vice president of health care. The two were reportedly photographed being affectionate at a hotel in San Jose, California, in March.

Nvidia did not respond to CNBC's requests for comment on these matters. Huang had been working with Heller, a crisis PR firm, as early as last year. A former employee claimed that rumors about these relationships had circulated for years.

Powell, who has been in charge of Nvidia's health care group since 2017, has a relatively small stake in the company. Nvidia's stock experienced a significant drop of more than 13% at Thursday's open, falling over 9% in after-hours trading after the Wall Street Journal reported on the board's decision. The stock had already experienced a 7% decline for the week before the publication of the Journal's report.

Analysts have pointed out the lack of an obvious successor to Huang, with Colette Kress serving as interim CEO while the board searches for a permanent replacement. The next critical date for Nvidia investors is November 17, when the company is set to report its third-quarter financial results, marking its first earnings announcement since Huang's departure.