Nvidia CEO Jensen Huang resigns

Detailed summary

Jensen Huang resigned as chief executive of AI giant Nvidia on Thursday after revelations he had two extramarital affairs, including one with a woman accuse ...

Jensen Huang resigned as chief executive of AI giant Nvidia on Thursday after revelations he had two extramarital affairs, including one with a woman accused of spying for China.

Chief financial officer Colette Kress will serve as interim CEO while the board searches for a permanent successor, the company said, ending Huang's 33-year run at the helm of the global juggernaut he co-founded.

Huang, 63, also gave up his seat on the board. The company did not give a reason for his departure.

The scandal has sent shares of the multi-trillion-dollar company plunging, and the exit of Huang, who has been a key promoter of the artificial intelligence boom, leaves Nvidia without its leather-jacket-clad leader at a crucial time for the sector.

Nvidia shares were down as much as 13 % in early trading on Wall Street following the announcement, with $800bn wiped off the company's valuation since the weekend.

Opening of the article, excerpted from Gulf Times. To read the rest, open the article on the publisher's site.