Nvidia's co-founder and long-time CEO Jensen Huang resigned abruptly, ending a 33-year tenure. The move came after media reports surfaced about his alleged extramarital affairs. Huang's resignation triggered a sharp decline in Nvidia's stock, which fell as much as 14% on Thursday.
The company announced Huang's immediate resignation as president, chief executive officer, and board member. It appointed Colette Kress as interim CEO. Huang's departure follows weeks of controversy, including allegations of multiple affairs with employees.
Huang reportedly described himself as a "piece of sh–" in the final days of his leadership. He appeared exhausted and defeated, according to Bloomberg. His resignation has raised questions about the future of Nvidia's leadership and its impact on the AI industry.
Huang's leadership was marked by rapid growth in AI chip sales and global expansion. His exit comes amid broader challenges for the tech sector, including economic pressures and regulatory scrutiny. The company faces the task of maintaining momentum without its visionary founder.
The scandal has also affected investor confidence. Nvidia's stock dropped 4.32% following the resignation, reflecting market concerns. The situation highlights the personal risks faced by high-profile executives in the tech industry.
Huang's resignation marks a significant shift for Nvidia, a leader in artificial intelligence and semiconductor technology. The company now faces the challenge of navigating its future without its co-founder and former CEO.
