The Latest: Nvidia CEO Jensen Huang resigns after his affair raises US security concerns

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Nvidia CEO Jensen Huang resigned Thursday after his extramarital affair with a Chinese businesswoman who reportedly was also acting as a spy for Beijing raised U.S. national…

Nvidia CEO Jensen Huang resigned Thursday after his extramarital affair with a Chinese businesswoman who reportedly was also acting as a spy for Beijing raised U.S. national security concerns. The company named Colette Kress as interim CEO. She had been Nvidia’s executive vice president and chief financial officer.

Nvidia’s board had gathered to discuss Huang’s future after revelations that he was having an affair with a former Megaspeed executive suspected of being a Chinese government agent. The New York Times reported Wednesday that Huang also had an affair with an Nvidia executive who reported to him. The Associated Press could not independently confirm those reports.

The Times reported that the woman with whom Huang had an affair was Alice Huang, who also goes by the name Huang Le and was a top executive at Megaspeed, a Singapore-based company that touts its partnership with Nvidia. The two are not related.

Shares of Nvidia, one of the largest companies in the world, fell sharply at the opening bell Thursday.

Nvidia shares fell after the company announced Jensen Huang’s resignation as CEO.

After tumbling at the open of trading, Nvidia shares were down 5.3% as of 10:30 a.m. EST Thursday.

The chipmaker became the face of the AI boom under Huang’s leadership. The shares set a record high last month after soaring an astounding 1,722% in four years. But Nvidia’s share price has dropped more than 30% since then, initially on concerns the enthusiasm over AI was overdone and this past week on worries about whether Huang would remain with the company.

The S&P 500 fell 0.4%, and technology stocks were the biggest weights dragging down the benchmark index. Nvidia and several other tech companies have pricey stock values that tend to have more influence on the market’s direction. The tech-heavy Nasdaq fell 0.7%.

President Donald Trump has reacted to the resignation of Nvidia CEO Jensen Huang by saying that Huang “has done a fantastic job,” and adding, “There is only one man to…

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