Allegations of Espionage
Nvidia CEO Resigns Following Scandal Over Extramarital Affairs!
Following the scandal involving two extramarital affairs—and recent espionage allegations against one of his mistresses—Jensen Huang, CEO of the U.S. chipmaker Nvidia, is stepping down. The pressure within the company had apparently become too great.
Kronen Zeitung als bevorzugte Google-Quelle hinzufügen Huang is thus likely preempting his dismissal by his own board of directors. The board had met on Wednesday, but a decision had not yet been made public. A few days ago, when there had initially been talk of only one affair—not two—Nvidia had still stated that Huang would continue to lead the company without interruption.
CFO Takes Over as CEO
Now, the 63-year-old is voluntarily stepping down. His duties will be temporarily assumed by the company’s former CFO, Colette Kress, the U.S. company announced on Thursday.
Kress, 59, assumed her current position in 2013. Prior to that, she had worked at other technology companies such as Microsoft, Cisco, and Texas Instruments. She was the obvious choice, said analyst Josh Gilbert of the online brokerage eToro ahead of the announcement. “She is a familiar and trustworthy voice for the market at a time when it desperately needs one.” The espionage scandal is further fraying the nerves of investors, who were already on edge due to speculation about a slowdown in the AI boom.
Admitted to Two Affairs
Huang had admitted to having an extramarital affair with a woman whom U.S. authorities allegedly classify as a Chinese spy. Previously, another relationship with a different woman had come to light. She is said to have been an executive at the company who reported to Huang.
The scandal not only caused the company to suffer significant losses on the stock market; the issue has also taken on a major political dimension. Nvidia dominates the market for specialized chips that are essential for training artificial intelligence (AI) models such as OpenAI’s ChatGPT.
The company is thus at the center of the technological competition between the U.S. and China. U.S. authorities are investigating suspicions that, through the affair with the Chinese woman, the government in Beijing gained access to state-of-the-art AI chips, the export of which to China is prohibited.
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