Hyderabad, Nov. 12: Nvidia CEO Jensen Huang has reportedly resigned after 33 years leading the semiconductor giant he co-founded. The announcement follows allegations involving two extramarital affairs, including one with a woman accused of spying for China.
According to the report, Nvidia’s board will begin searching for a permanent successor. Huang will also leave the company’s board.
“The Board is initiating a search for a permanent Chief Executive Officer and will consider internal and external candidates,” the company said in a statement.
ALSO READ: AP Panchayat Elections: Three-Phase Schedule Announced
The controversy intensified after reports alleged that Huang had an affair with a subordinate who reported directly to him. The reports also claimed he had a close relationship with Alice Huang, who was accused of passing intelligence to Beijing.
FBI Investigation and Nvidia Shares Under Pressure
US intelligence agencies reportedly examined the alleged relationship between Huang and Alice Huang. Nvidia announced an internal investigation, while US President Donald Trump confirmed that the FBI was also looking into the matter.
However, Nvidia reportedly said it had found no reason to suspect a breach of national security or internal company secrets. The company said its investigation would review all available information.
Trump said Huang had told him he did not know the woman was allegedly a spy. He also said he believed Huang and expected him to be in a good position.
China has denied involvement in any alleged attempt to compromise the Nvidia chief.
Meanwhile, Nvidia shares reportedly fell 13 per cent in premarket trading on Thursday. The stock has lost more than a third of its value since reaching a record high last month.
The decline has reportedly wiped around $1.7 trillion off the company’s market capitalisation.
ALSO READ: Illegal Egg Collection Racket: Police Probe Money Trail, Eight People Arrested
Nvidia is scheduled to announce its third-quarter fiscal 2027 results on November 17. The company will hold its earnings call later that day.
Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe. Click to follow Indtoday’s Facebook page, Twitter, and Instagram. For all the latest Hyderabad News updates and Follow us on GoogleNews and Follow Our Youtube Channel on Google
