Jensen Huang reportedly abandoned his post as Nvidia CEO in the past few hours – as his affair scandal wipes out more than $1 trillion in value

Jensen Huang, known for his endless energy and iconic leather jacket, reportedly became a different person in his final hours before relinquishing his post as CEO of Nvidia (NASDAQ: NVDA).

According to a Bloomberg exclusive, Huang gave up in the end, trading his typical go-getter attitude for an air of defeat. A person familiar with the matter told Bloomberg that Huang even started using phrases like “whatever” and “I don’t care.”

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Huang’s resignation marks a stunning fall for the billionaire who just weeks ago was seen as one of the driving forces behind the AI ​​boom. The former CEO resigned after admitting to having an extramarital affair with a person suspected of being a Chinese spy.

Since admitting to the affair, reports quickly emerged that Huang had two other affairs with Nvidia employees. People who spoke to him in recent days told Bloomberg that Huang was increasingly remorseful and reportedly called himself an “asshole.”

Huang’s resignation

The former Nvidia CEO announced his resignation on November 12 after facing growing calls for his resignation.

Reports of Huang’s ties to a suspected Chinese spy first came to light in October, following a New York Times exclusive claiming he had a close relationship with a woman who provided intelligence to Beijing. It was also alleged that the woman, named Alice Huang (no relation), was helping to smuggle advanced AI chips to China.

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In a memo to staff on November 8, Huang admitted to having an affair but did not name the woman involved. Nvidia later announced it would open an investigation into allegations that Huang was the “target of a foreign intelligence effort,” while asserting that it had “no reason to believe that Nvidia’s national security or secrets had been compromised.”

On November 11, The New York Times reported that Huang also allegedly had an affair with Kimberly Powell, Nvidia’s vice president of healthcare. Nvidia’s code of conduct asks employees to avoid any situation that could create conflict, including “personal relationships.”

Huang officially resigned as CEO of Nvidia the following morning. The same day, Reuters reported that the former CEO had an “intimate relationship” with a second Nvidia employee, although she remains anonymous.

The future of Nvidia

Investors are wondering what Nvidia’s future — and the AI ​​boom — will look like without Huang, who co-founded the chipmaker in 1993.

The scandal has already had a resounding impact on the company. Nvidia shares fell 14% after the market opened following Huang’s resignation, wiping out about $546 billion in market value. The stock rallied during the day and was down 4.3% at market close. As of November 13, the stock was trading at around $160, down 6.3%.

The ongoing scandal has caused Nvidia’s market valuation to drop by more than $1 trillion.

The scandal could also have political consequences. Huang, who had close ties to President Trump, could face political repercussions due to this alleged foreign interference. Lawmakers could also target the Trump administration, which has been accused of ignoring sales of Nvidia chips to China, which are currently banned.

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This article was originally published on Moneywise.com under the title: Jensen Huang Reportedly Abandoned His Post as Nvidia CEO in Recent Hours – As His Affair Scandal Wipes Over $1 Trillion in Value.

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