Nvidia CEO Jensen Huang stepped down on Thursday (Nov 12) after revelations of two extramarital affairs, including one involving a suspected Chinese spy, plunged the chipmaker into crisis and sent shockwaves across an AI industry he helped bankroll.
Huang's exit caps a tumultuous week for Nvidia, one of the major engines behind the AI boom, and could have far-reaching consequences for US chip export policy and the broader AI ecosystem, given the ex-CEO's push to preserve access to the Chinese market, as well as his close ties with US President Donald Trump.
The crisis has threatened to implicate some Trump administration members, including Commerce Secretary Howard Lutnick, who is facing growing questions over the administration's oversight of chip sales to China, particularly as both he and Huang pushed for relaxing those sales despite scrutiny from longtime China hawks in both parties. The Commerce Department did not immediately comment.
Senior White House officials are discussing whether Lutnick should be pushed out, two people familiar with the situation told Reuters on Thursday.
Guess WordCrack the word, one row at a timeBuzzwordCreate words using the given lettersMini SudokuTiny puzzle, mighty brain teaserMini CrosswordSmall grid, big challengeWord SearchSpot as many words as you can Show More Show LessThe White House did not immediately respond to a request for comment on Lutnick's future. Earlier in the day, a White House official said US President Donald Trump "maintains complete confidence in the secretary and his ability to carry out the position."
Huang's departure threatens to disrupt an AI ecosystem that he helped shape by pouring Nvidia's swelling cash pile back into cloud providers, suppliers and the industry's biggest labs. The surge in AI computing demand drove a sevenfold increase in Nvidia's shares through early October, pushing its market value at one point to nearly US$6 trillion.
Chief Financial Officer Colette Kress will take over as interim CEO as Nvidia looks for a permanent successor, considering both internal and external candidates, the company said on Thursday.