Friday, November 13, 2026

Jensen Huang resigns as Nvidia CEO as affairs raise security concerns

By Joseph Stepansky and Catherine Nouhan

Jensen Huang, 63, has resigned as chief executive of AI giant Nvidia, according to the company, after revelations emerged that he had two extramarital affairs, including one with a woman accused of spying for China.
Chief financial officer Colette Kress will serve as interim CEO while the board searches for a permanent successor, ending Huang’s 33-year run at the helm of the global juggernaut he cofounded.
The scandal has sent shares of the multitrillion-dollar company plunging, and the exit of Huang – a key promoter of the artificial intelligence boom – leaves Nvidia without its founding leader at a crucial time for the sector.
US Democratic lawmakers have called for an investigation into the Trump administration’s handling of the scandal.

13m ago
(19:15 GMT)
Editor’s choice: What to read and watch right now
Over the past 24 hours, we’ve published a range of pieces covering Nvidia’s CEO.
Here are some of them:
The news: Nvidia CEO Jensen Huang resigns amid spy scandal and market loss
Explainer: What could Chinese intelligence have learned from Nvidia CEO’s affair?
In-Depth: Nvidia shares plunge amid reports board to discuss CEO Huang’s future
WATCH: Nvidia CEO Jensen Huang steps down, more affair details revealed
You can find more of our coverage here.
28m ago
(19:00 GMT)
WATCH: Nvidia CEO Jensen Huang steps down
1:22
Nvidia CEO Jensen Huang steps down, more affair details revealed
43m ago
(18:45 GMT)
Schumer adds to mounting calls for congressional probes
The calls for investigations into Huang and the Trump administration are growing.
US Senate Minority Leader Chuck Schumer, who is expected to lead the chamber in January after Democrats’ midterm electoral gains, says the US Congress “must demand answers” on how the NVIDIA scandal potentially placed the country’s national security at risk.
“The Trump administration must also answer for what it did once it learned about Mr Huang’s relationship with a suspected Chinese intelligence asset”, the New York Democrat said in a social media post.
“Were government officials told not to investigate because of Trump’s relationship with Mr Huang? What did Trump know when he personally invited Mr Huang aboard Air Force One?”
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58m ago
(18:30 GMT)
Rival chipmakers rally as Nvidia shares slump
By Andy Hirschfeld
Nvidia stock is down 5.6 percent following CEO Jensen Huang’s resignation. The stock began the day down 13 percent but has since moved closer to zero as trading continued.
Meanwhile, other chipmakers are benefiting from Nvidia’s slump. Advanced Micro Devices (AMD) is up 4.4 percent in midday trading, while Broadcom is up 5.2 percent.
Overall, markets are in positive territory after dipping earlier today.
The Dow Jones Industrial Average is up 0.4 percent from the market open. The S&P 500 is up about 0.2 percent, while the tech-heavy Nasdaq is roughly even with its opening level on Thursday.
1h ago
(18:20 GMT)
Democrats in House and Senate notify Trump administration of investigation
Democrats on the Senate Committee on Finance and the House Committee on Ways and Means have notified US Commerce Secretary Lutnick that they are launching a probe into the Trump administration’s plans to approve AI chip sales to Chinese companies “with concerning links to the Chinese government, military and sanctioned entities”.
In their letter, the lawmakers pointed to reporting that Trump and Lutnick had been briefed on Nvidia CEO Jensen Huang’s affair with alleged Chinese spy Alice Huang, but did not act on the information.
They further accused the administration of pursuing a scheme that required chips approved for sale to China to be sent to the US, allowing the government to levy a tariff, “effectively taking a cut of Nvidia’s sales to China through what appears to be an unconstitutional export tax system”.
The lawmakers also accused the Commerce Department, under Lutnick, of showing a “profound lack of due diligence” in its approval of Chinese buyers for Nvidia chips. Lutnick has already faced scrutiny for the department’s decision to abruptly end an investigation into Megaspeed, the company formerly led by Alice Huang, which was accused of illicitly shipping chips to China.
1h ago
(18:15 GMT)
IMF says it is monitoring AI market volatility after Nvidia shares slide
The International Monetary Fund (IMF), a global organisation that monitors the world economy, is observing volatility in AI stocks following Nvidia CEO Jensen Huang’s resignation. It says it is too early to determine whether investors are reassessing the sector’s long-term prospects.
IMF spokesperson Julie Kozack told a press briefing that AI valuations remain vulnerable.
“We, of course, are closely monitoring the most recent developments and their impact on equity markets, the economy, and financial stability, but at this point it’s really too early to say whether there’s going to be some broader reassessment of investment in AI technology and any broader reassessment of profitability and future productivity gains,” Kozack said.
Nvidia shares fell sharply on Thursday, pulling down the S&P 500 and Nasdaq, while some rivals, including AMD, Alphabet and Microsoft, rose.
Kozack also said AI investment and data centre construction were among the two major contributors to US inflation, alongside higher energy prices linked to the Iran war.
1h ago
(18:00 GMT)
Anthropic’s $1.4 trillion IPO faces new uncertainty after Nvidia shake-up
By Andy Hirschfeld
The shake-up at Nvidia has put new pressure on Anthropic, the maker of AI assistant Claude, as it is slated to make its initial public offering on US markets.
On Wednesday, Nvidia agreed to buy $10bn worth of shares from a private placement fund that also includes Google’s parent company, Alphabet, valued at $26bn.
“Any delay or reduction could weaken an important signal of support for Anthropic’s IPO,” Mandeep Singh, an analyst with Bloomberg Intelligence, said in an analyst note on Wednesday.
Anthropic has targeted a valuation of up to $1.4 trillion for its US market debut.
1h ago
(17:45 GMT)
Democratic senators demand Trump admin preserve records of dealings with Nvidia
Democratic Senators Elizabeth Warren and Chris Coons demand that the Trump administration preserve records of its dealings with Nvidia and investigations into the suspected diversion of AI chips to China, citing concerns about potential national security risks.
In a letter sent on Wednesday, the senators requested records of communications between Nvidia executives and administration officials, including Jensen Huang and President Donald Trump, as well as decisions surrounding the suspension or modification of export controls.
They also sought records detailing the transfer and handling of the Commerce Department’s investigation into Singapore-based Megaspeed, which is suspected of diverting advanced Nvidia chips to China.
“Questions also remain regarding whether or not prudent defensive counterintelligence action was taken or national security recommendations were overruled,” Warren and Coons wrote.
Warren and Coons asked the administration to confirm in writing by November 17 that document preservation directives have been issued across offices in the White House, Department of Commerce and Department of State.
They also requested a congressional briefing on the alleged Chinese intelligence operation and its potential national security implications.
1h ago
(17:30 GMT)
Megaspeed says committed to working ‘constructively and transparently’ with US
The data centre company at the heart of the Nvidia scandal has said it is ready to work with the US.
“Megaspeed takes its compliance obligations under US export control laws extremely seriously. Compliance is a fundamental priority for the company, and Megaspeed is committed to working constructively and transparently with the US government,” said a statement signed by chairman and CEO Tan Yong Pong.
Alleged Chinese spy Alice Huang, who had an affair with Nvidia CEO Jensen Huang, had previously led Megaspeed. US officials had suspected the company was bypassing export controls to deliver AI chips to China.
Megaspeed has previously denied any wrongdoing.
“To further reinforce our commitment to compliance, Megaspeed has retained a leading US law firm to lead a comprehensive census of its graphics processing units (GPUs) and independently verify its export control compliance practices,” today’s statement said.
The logo of data centre company Megaspeed is seen at the Ocean Financial Centre in Singapore [AFP]