Nvidia CEO Jensen Huang steps down amid affair reports – shares sank first
Nvidia's board reportedly weighed ousting Jensen Huang, and sources now say he has stepped down as CEO.
By YouScoop Desk · · 1 min read
The gist
- Reuters reported that Jensen Huang resigned as Nvidia CEO immediately, while GMA News said he steps down.
- The move followed reports of an alleged relationship with an Nvidia executive who reports to him, and Nvidia's stock sank.
- Nvidia's newsroom has announced a CEO transition, but the sources do not yet name who leads the company next.
Why it matters
Nvidia is one of the most valuable companies in America, and its shares fell as the reports spread. Sources describe the change as a big blow to the AI boom. Filipino readers following global tech news will want to see how the company moves forward.
Nvidia, the chipmaker at the heart of the AI boom, has lost its CEO. Reports first said the board was weighing the future of Jensen Huang. According to the sources, he has now stepped down.
Reuters described him as resigning as CEO immediately. GMA News reported that he steps down in what it called a big blow to the AI boom.
The news came after a wave of reports about his personal life. The New York Times reported that Huang was said to have had a relationship with an Nvidia executive who reports to him. These are allegations, and the sources do not confirm them.
The WSJ had reported that Nvidia was preparing to oust him. Nvidia's stock sank as those reports spread, and shares plunged again as the board was reported to be discussing his future.
The scandal also pulled in a woman who has been described as an alleged Chinese spy. Bloomberg identified Alice Huang as the alleged spy at the center of the Nvidia firestorm. The sources present this as an allegation, not a confirmed fact.
Huang had also hired a PR firm known for handling sex scandals last year, according to WIRED. That detail has been part of the coverage as the story grew.
What happens next
Nvidia has now put out a statement from its board, and its newsroom announced a CEO transition. The sources reviewed do not yet say who will lead the company next. They also do not say how the transition will work in the days ahead.
For now, the details beyond the announcement remain unclear. Business reporters will likely be watching the company's stock and any new statement from the board. Nvidia's shares had already taken a big hit during the reports, so investors will be looking closely at what comes next.
What do you think? Should a tech CEO step down over personal scandals, or should the judgment depend only on how the company performs?
Background
Before this, reports said Huang hired a PR firm known for handling sex scandals last year. Inquirer.net also reported that a Chinese woman accused of spying on Nvidia's chief had entered Taiwan 8 times. Nvidia's shares had already plunged as the board reportedly weighed Huang's future.
Sources
This story is written in our own words from reports by GMA News, Al Jazeera, BBC, Reuters, CNBC and ABS-CBN News. Spotted an error? Tell us.
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