Key facts
- Jensen Huang resigned as Nvidia's CEO after reports of two affairs, one with a person described as a suspected Chinese spy.
- Nvidia's Chief Financial Officer Colette Kress replaced Huang for now, the BBC reported.
- Nvidia shares closed more than 4% lower in the US session after the resignation, per the BBC.
- Huang indicated he is willing to appear before Congress to discuss whether US national security was compromised.
- China's government called allegations of spying a "smear", the BBC reported.
- Trump told The Hugh Hewitt Show that Huang's resignation was "a horrible thing".
Jensen Huang resigned as chief executive of Nvidia after reports that he had two affairs, one with a person described as a suspected Chinese spy and another with senior employee Kimberly Powell, the BBC reported on November 12, 2026.
Nvidia's shares fell as US markets opened after the resignation and closed more than 4% lower, with the company shedding more than half a trillion dollars in market value, according to the BBC. The BBC said the stock had traded at around $170 the day before its report, against around $30 five years earlier.
The company named Chief Financial Officer Colette Kress to replace Huang for now. Huang, who co-founded Nvidia more than 30 years ago and has an estimated net worth of $145 billion, indicated he is willing to appear before Congress to discuss whether US national security was compromised.
China's government called allegations of spying a "smear", the BBC reported. The BBC said Nvidia's B200 and B300 chips cannot legally be exported to China.
US President Donald Trump, speaking on The Hugh Hewitt Show, said of the resignation: "What a horrible thing that is. That's so sad to see that happen." He also said the US would "be in bad shape" if it lost its edge in the AI race with China.