Nvidia shares tumble over investigation into Huang's affair with alleged Chinese spy

Newswire reports that Nvidia CEO Jensen Huang resigned and stepped down from the company’s board with immediate effect, with the board announcing his departure on Thursday, November 12. Newswire says the move ends his leadership of the chipmaker, which he founded in 1993.

Newswire reports that an internal investigation examined two extramarital affairs. It says one involved a woman whom U.S. intelligence officials had assessed as a suspected Chinese asset, and the other involved an Nvidia healthcare vice president who reported directly to Huang. Newsfirst reports that President Donald Trump said the FBI was investigating an alleged affair involving a suspected Chinese spy, and that Trump had spoken with Huang on Monday.

Newswire reports that Nvidia had said it had no reason to believe company secrets or national security had been compromised. It also reports that Huang apologized to the company and his family and said he had no excuse for his infidelity.

Newswire reports that an incoming Democratic-controlled Congress was preparing to investigate the matter, including what Trump knew about the alleged Chinese espionage. Before the reported resignation, Hiru News and Ada Derana had reported that the board was preparing to oust Huang or considering his removal. Ada Derana also reports that Trump said former Apple CEO Tim Cook should replace him.