Jensen Huang resigns as Nvidia CEO after affairs scandal and spy inquiry

Nvidia founder Jensen Huang resigned Thursday as president, chief executive and board member after 33 years, following reports of multiple extramarital relationships and a board investigation into whether he had been the target of a foreign intelligence operation.

The crisis began when U.S. intelligence officials reportedly suspected Alice Huang, an executive at Singapore-based Megaspeed — one of Nvidia's largest Southeast Asian customers — of gathering information for Beijing. Nvidia's board opened an independent investigation. On November 8, Huang acknowledged an affair with Alice Huang. The New York Times subsequently reported a second relationship, with Kimberly Powell, Nvidia's vice president of health care, who reported directly to him. Reuters reported a third relationship with an unnamed Nvidia employee the day after his resignation.

Chief financial officer Colette Kress was named interim CEO. Longtime director Harvey Jones took over as board chair.

Nvidia's stock fell more than 14 percent at Thursday's open before recovering to close down approximately 4.6 percent. Singapore barred Alice Huang from re-entering the country. Alibaba shares fell on reports it was a Megaspeed customer. Congressional committees had already sought a closed-door briefing from Huang regarding his Megaspeed ties before the resignation was announced.