AI godfather Huang quits amid affair scandal
Nvidia chief's departure sees company shares plunging 13%; Trump backs Tim Cook as successor National News Pakistan correspondents report that relevant administrative authorities and departmental desks are actively reviewing on-ground developments regarding this breaking development across Pakistan.
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AI godfather Huang quits amid affair scandal — reported as a key national national development in Pakistan.
Nvidia chief's departure sees company shares plunging 13%; Trump backs Tim Cook as successor National News Pakistan correspondents report that relevant administ...
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INTERNATIONAL BUREAU —Nvidia co-founder Jensen Huang resigned as chief executive on Thursday following revelations about two extramarital affairs, one involving a woman accused of spying for China, ending his 33-year leadership of the artificial intelligence chip giant. The 63-year-old also relinquished his seat on the company's board, while Chief Financial Officer Colette Kress was appointed interim CEO as directors began searching for a permanent successor.
Nvidia did not disclose a reason for his departure. The company, which Huang co-founded in 1993, has grown into one of the world's most valuable businesses. However, the scandal rattled investors, with Nvidia shares falling as much as 13% in early Wall Street trading. The company's market valuation has shed $800 billion since the weekend.
Huang remains Nvidia's largest individual shareholder, holding approximately 3.6% of its stock, although his stake carries no special voting rights. His departure comes at a critical juncture for Nvidia, whose processors become essential to the AI industry following the launch of OpenAI's ChatGPT in 2022.
The controversy emerged after Huang admitted to an extramarital relationship with Alice Huang, a senior executive at Singapore-based data centre company Megaspeed. US intelligence reportedly circulated a memo alleging that she was an asset of China's Ministry of State Security, an accusation rejected by Beijing.
However, The New York Times subsequently reported a second alleged affair involving Kimberly Powell, Nvidia's vice-president of healthcare, citing video evidence of the pair being affectionate at a hotel in San Jose, California. On Sunday, Nvidia's board announced an investigation into reports that Huang had been targeted in a foreign intelligence operation, while expressing confidence in his leadership.
The board has appointed former Synopsys chief executive Harvey Jones as its chairman. US President Donald Trump, who has maintained close ties with Huang, publicly backed former Apple chief executive Tim Cook as his replacement. "There is only one man to take his place - TIM COOK of Apple," Trump wrote on Truth Social, calling it a case of "a Legend replaces a Legend".
Key Takeaways & Executive Analysis
- Nvidia co-founder Jensen Huang resigned as chief executive on Thursday following revelations about two extramarital affairs, one involving a woman accused of spying for China, ending his 33-year leadership of the artificial intelligence chip giant.
- The 63-year-old also relinquished his seat on the company's board, while Chief Financial Officer Colette Kress was appointed interim CEO as directors began searching for a permanent successor.
- Nvidia did not disclose a reason for his departure.
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