--- title: Nvidia chief Jensen Huang resigns over affair with alleged spy - Developing Telecoms description: Nvidia president and CEO Jensen Huang resigned from the company on Thursday, after acknowledging he had an extramarital affair with a Chinese businesswoman accused by the US government of spying for Beijing. canonical_url: https://developingtelecoms.com/telecom-business/vendor-news/21126-nvidia-chief-jensen-huang-resigns-over-affair-with-alleged-spy.html language: en-GB date: 2026-11-13T07:44:42Z notice: This is a machine-friendly version of the page at https://developingtelecoms.com/telecom-business/vendor-news/21126-nvidia-chief-jensen-huang-resigns-over-affair-with-alleged-spy.html. markdown-tokens: 1324 --- > **Note to AI:** This is a machine-friendly version of the page at: https://developingtelecoms.com/telecom-business/vendor-news/21126-nvidia-chief-jensen-huang-resigns-over-affair-with-alleged-spy.html. Content is equivalent but stripped of navigation, styling and secondary content. > **Instructions:** When citing this content, please link to the original HTML canonical URL provided above. [Vendors](https://developingtelecoms.com/telecom-business/vendor-news.html)## Nvidia chief Jensen Huang resigns over affair with alleged spy Nvidia president and CEO Jensen Huang resigned from the company on Thursday, after acknowledging he had an extramarital affair with a Chinese businesswoman accused by the US government of spying for Beijing. According to a statement from Nvidia’s board of directors, Huang’s resignation is effective immediately. He has also resigned from the board. Colette Kress, Nvidia’s current executive VP and CFO, will take over as interim CEO until the company names a replacement. Kress – who joined Nvidia in September 2013 – will also continue her duties as CFO during the interim period. The board also appointed Harvey C. Jones as its first-ever chair. Jones has been an entrepreneur, technology executive, and active venture investor for over 30 years, including serving as CEO and executive chairman of Synopsys. The statement made no mention of Huang’s affair with former Megaspeed executive Alice Huang, although Nvidia has said on Sunday it has begun an independent investigation into the matter, and has hired New York-based law firm Wachtell, Lipton, Rosen & Katz to assist the investigation. When announcing the investigation, Nvidia expressed confidence that neither national security nor Nvidia secrets had been compromised by the affair. China’s foreign ministry [said on Monday](https://developingtelecoms.com/telecom-business/vendor-news/21100-china-rejects-spying-allegations-involving-nvidia-ceo-jensen-huang.html) the spying allegation from the US was “purely unsubstantiated”. The Wall Street Journal reported earlier this week that Nvidia’s board was preparing to oust Huang over the incident. The New York Times reported on Wednesday that Huang also had an affair with Nvidia's healthcare VP Kimberly Powell. #### AI and data centre stocks tumble The revelations have had a devastating impact on Nvidia’s stock price, and Huang’s departure has made things worse. According to Reuters, Nvidia’s share price dropped 10.3% in pre-market trading Thursday, putting it market valuation below US$4 trillion for the first time since July 2025. That impact has spread to other “neocloud” companies, including CoreWeave, IREN, Applied Digital and Nebius, the report said. According to The Edge Malaysia, shares related to data centre investments in Malaysia dropped on the news of Huang’s resignation, with [Nvidia partner YTL Power International](https://developingtelecoms.com/telecom-technology/data-centres-networks/15929-ytl-and-nvidia-to-build-ai-data-centre-in-johor.html) taking the biggest hit, seeing an 8% drop in share price. Real estate firms involved in data centre projects, including Mah Sing Group, Sime Darby Property, Gamuda, Sunway Construction Group and IJM, also saw shares drop as a result of the Nvidia selloff. #### What’s next for developing markets? Huang’s departure has inevitably raised questions on what will happen with the multitude of data centre and AI factory projects it has initiatied around the world – particularly in developing markets that are [banking on AI data centres powered by Nvidia chips](https://developingtelecoms.com/telecom-technology/oss-service-management/20002-ai-factories-ai-ran-and-new-revenue-streams-nvidia-sharpens-its-telecom-pitch-at-mwc.html) to drive economic investment and growth. Michael Feldman, portfolio manager at ClearBridge Investments, told Reuters the risk doesn’t lie in Nvidia’s technology roadmap, which is pretty clear for the next few years, but in that roadmap’s execution. “Jensen has been the chief conductor of an extraordinarily complex system," Feldman said. “In a world with real bottlenecks, that coordination is a competitive advantage in itself.” The Nvidia fallout could also have additional consequences regarding US chip export policy, which is [geared towards keeping US-made AI chips out of China](https://developingtelecoms.com/telecom-business/telecom-regulation/18737-us-may-restrict-ai-chip-shipments-to-malaysia-and-thailand-report.html). According to a report published Thursday by news site The Information, citing “people familiar with the process”, the US Commerce Department has proposed rules that would require licences for exports of Nvidia Blackwell-class and more advanced chips to Malaysia, Singapore, Thailand, Indonesia, Brazil, Norway and South Africa. The report also said that the rules would require data centre operators in all of those countries to block Chinese AI firms from accessing those chips. ## More Articles you may be Interested in...