Nvidia CEO Jensen Huang resigns amid scandal over espionage allegations

On November 12, 2026, Jensen Huang, the co-founder and long-time CEO of Nvidia, resigned from all his positions following reports of extramarital affairs, including one with a woman suspected of spying for China. US intelligence had reportedly warned the Trump administration about the security risks multiple times, though President Donald Trump initially attempted to persuade Huang to stay in his role. Following his departure, the company appointed CFO Colette Kress as interim CEO, and Harvey Jones as the first board chair. Nvidia's share price dropped over 12 percent, representing a market value loss of approximately 500 billion dollars.

Political fallout has intensified as the US Senate Banking Committee, led by Senator Tim Scott, summoned Huang and US Commerce Secretary Howard Lutnick to testify in December regarding national security and the protection of sensitive technology. Within the Trump administration, internal tensions have erupted, with Treasury Secretary Scott Bessent criticizing the Department of Commerce for failing to adequately regulate Nvidia's high-end chip exports. There is ongoing speculation about potential administrative changes, including the possible removal of Secretary Lutnick. Despite public support from President Trump, who suggested former Apple CEO Tim Cook as a successor, the company faces rigorous congressional oversight and ongoing investigations into its international operations.