Insiders have described Jensen Huang’s final days as Nvidia’s chief executive, as allegations surrounding his personal life triggered turmoil at the chipmaker and reverberated across global markets.
Huang stepped down as Nvidia began an internal investigation into reported extramarital relationships, including one involving a woman alleged to have connections to Chinese intelligence.
The technology executive, who has been married to his wife Lori for more than four decades, acknowledged on Sunday that he had been unfaithful. Reports have linked the relationship to Alice Huang, a former senior executive at Singapore-based data-centre company Megaspeed.
On Wednesday, The New York Times reported allegations of a second relationship, citing video that purportedly showed Huang behaving affectionately with Kimberly Powell, Nvidia’s vice president of healthcare.
The controversy has reportedly erased $550 billion from Nvidia’s market value, while raising questions about national security and creating fresh uncertainty for the fast-growing artificial intelligence sector.
According to insiders cited by Bloomberg, Huang’s spirits had deteriorated sharply during the week before his departure.
People who spoke with him said he appeared emotionally exhausted and repeatedly used expressions including “whatever” and “I don’t care” in the days before resigning on Wednesday.
Sources also said Huang had adopted an intensely self-critical tone, reportedly referring to himself in profane terms.
Huang stepped down as Nvidia investigated allegations concerning his personal relationships
Huang has also been asked to appear before a Senate committee to answer questions about his reported relationship with the woman at the centre of the alleged Chinese-intelligence links.
Republican Senator Tim Scott, chairman of the Banking Committee, called on the former Nvidia chief to testify.
“Recent reports raise serious concerns about our national security and the protection of sensitive US technology,” Scott wrote on X on Thursday. “The American people deserve answers.”
Bloomberg reported that Nvidia’s board initially paid little attention to Huang’s connection with Alice Huang. The pair share a surname but are not related. The matter gained greater significance after the board learned that their relationship was reportedly romantic.
The disclosure led to an internal investigation. In an email to staff on Sunday, Huang acknowledged the affair, apologised to his family and promised to cooperate fully with the inquiry.
People familiar with the situation said the scandal had become an increasing distraction for a CEO known for his intense attention to detail, drawing focus away from Nvidia’s operations.
Huang had previously been known for replying to messages from dozens of senior executives at any hour. In the days before his resignation, however, colleagues noticed that his responses were taking longer.
The board met with Huang late on Wednesday after reports emerged of a second alleged relationship involving Powell. The discussions continued into the night.
Huang resigned the following day, with Nvidia announcing that chief financial officer Colette Kress would serve as interim chief executive.
“I believe deeply in this company and in its future,” Kress wrote in a message to employees. “More than anything, I believe in each of you, in our customers and partners and in the vital role we play every day in the global economy. The Board, staff and I recognise that this has been an extraordinarily difficult period and I want you to know how grateful we are for your resilience, professionalism and continued dedication. Thank you.”
The upheaval deepened only hours after Huang’s departure, when reports surfaced of a third alleged relationship—described as an “intimate relationship” with another Nvidia employee whose identity has not been disclosed.
A senior Trump administration official gave the Daily Mail a stark assessment of the potential consequences, saying: “The world economy is f*****.”
Nvidia’s fortunes changed dramatically after OpenAI released ChatGPT in 2022, setting off a worldwide race to build artificial intelligence systems. The company’s processors, originally developed largely for video-game graphics, became essential tools for training and operating AI models.
Huang remains Nvidia’s largest individual shareholder, holding approximately 3.6 per cent of the company, according to Nvidia.
Born in Taiwan, Huang had served as an informal adviser to President Donald Trump on artificial intelligence. He had also spent years lobbying against restrictions on advanced AI-chip sales to China, while arguing that national-security policy should be carefully balanced against the interests of US technology companies.
Huang has acknowledged a relationship with Chinese businesswoman Alice Huang; the pair were photographed together several times from 2024 onwards
Sources said video allegedly showed Huang behaving affectionately with Kimberly Powell at a California hotel during Nvidia’s March conference
Trump, who had continued to support Huang during the controversy, suggested that former Apple chief executive Tim Cook should replace him.
“A Legend replaces a Legend!” the President wrote on Truth Social, praising Cook for making Apple “one of the great companies of the world at a fairly short range”.
Asked on Thursday whether Huang should have resigned, Trump said the answer depended on the circumstances.
“If the woman was a spy, yes. If the woman was not a spy, perhaps it would be different,” he told an interviewer.
Trump nevertheless said he believed Huang would recover, adding that he had spoken with him the previous day. “He’s going through hell,” Trump said. “What he feels most badly about is his wife and family.”
The allegations come as the United States and China compete for dominance in artificial intelligence, an industry increasingly viewed as the defining technological and economic battleground of the next industrial revolution.