Jensen Huang is stepping down as CEO of Nvidia after 33 years amid a spying scandal

On November 12, Nvidia officially confirmed the resignation of co-founder and longtime CEO Jensen Huang, who had led the company since 1993. His departure brings to a close a 33-year era of leadership at Nvidia, which has become one of the key players in the global AI industry.

The crisis was triggered by reports of two extramarital affairs. One of the women, a former executive at Singapore-based Megaspeed International, is suspected by U.S. intelligence agencies of spying for China. The second, according to media reports, works at Nvidia. On November 8, Huang publicly admitted to marital infidelity and apologized to his family and employees.

The board of directors has launched an independent investigation into a possible leak of confidential information. Colette Kress, Nvidia’s chief financial officer, has been appointed interim CEO. The company is beginning the search for a permanent CEO. Amid the scandal, Nvidia’s stock fell 10% in premarket trading.

Huang co-founded Nvidia and led it for 33 years. During that time, the company grew into one of the key players in the global AI industry. His departure brings this era to a close.