Nvidia CEO Jensen Huang resigns after 33 years; CFO Colette Kress named interim CEO

Jensen Huang resigned as CEO of Nvidia, effective immediately, following reports of extramarital affairs. CFO Colette Kress was appointed interim CEO. Nvidia's stock fell over 10% in pre-market trading.

Nvidia's board of directors fired founder and longtime CEO Jensen Huang after 33 years at the helm. The reason was the exposure of two romantic relationships: with Chinese entrepreneur Alice Huang, suspected of espionage on behalf of Beijing, and with company vice president Kimberly Powell, who reported directly to him. CFO Colette Kress has been appointed interim CEO. Nvidia shares fell 13% to $151. U.S. President Donald Trump and billionaires Elon Musk and Bill Ackman expressed support for Huang. China denied the espionage allegations. The article also examines possible consequences for the AI market and Nvidia's competitors.