Jensen Huang, known for his endless energy and distinctive leather jacket, reportedly became a different person in his final hours before resigning from his position as head of Nvidia. [NASDAQ: NVDA] Executive Director. According to a Bloomberg exclusive, Huang had given up in the end, exchanging his typical go-getter attitude for a look of defeat. A person familiar with the situation told Bloomberg that Huang even began using phrases like “whatever” and “I don’t care.” Must Read Huang’s resignation marks a surprising fall for the billionaire who was considered one of the powers of the AI boom just a few weeks ago. The former CEO resigned after admitting to an extramarital affair with someone suspected of being a Chinese spy. Since admitting to the affair, reports quickly emerged that Huang had two more affairs with Nvidia employees. People who have spoken to him in recent days told Bloomberg that Huang has become more remorseful and is reportedly calling himself a “piece of s–t.” Huang’s resignation The former Nvidia CEO announced his resignation on November 12 after facing growing calls for him to step down. Reports of Huang’s connection to an alleged Chinese spy first emerged in October, following a New York Times exclusive that claimed 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 into China. Read more: Vanguard reveals what’s coming for US stocks, and it could be bad news for this group of investors In a note to staff on Nov. 8, Huang admitted to having an affair, but did not name the woman involved. Nvidia subsequently announced that it would launch an investigation into claims that Huang was the “target of a foreign intelligence effort,” although it said it had “no reason to believe that Nvidia’s national security or secrets were 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 tells employees to avoid any situation that could create conflict, including “personal relationships.” Huang officially resigned as CEO of Nvidia the next morning. That same day, Reuters reported that the former CEO had an “intimate relationship” with a second Nvidia employee, although he remains anonymous. The future of Nvidia Investors are wondering what the future of Nvidia (and the rise of AI) will look like without Huang, who co-founded the chipmaker in 1993. The scandal has already had a surprising impact on the company. Nvidia shares plunged 14% after the market opened following Huang’s resignation, wiping out approximately $546 billion in market value. The stock recovered during the day and was down 4.3% by the time the market closed. As of Nov. 13, the stock was trading at around $160, a drop of 6.3%. The ongoing scandal has sunk Nvidia’s market valuation by more than $1 trillion. The scandal could also have political consequences. Huang, who had close ties to President Trump, could face political repercussions for alleged foreign interference. Lawmakers could also take aim at the Trump administration, which has faced accusations that it ignored sales of Nvidia chips to China, which are currently banned. What to read next Join over 250,000 readers and get the best Moneywise exclusive stories and interviews first – clear insights curated and delivered weekly. Subscribe now. This article originally appeared on Moneywise.com with the title: Jensen Huang Reportedly Resigned in Recent Hours as Nvidia CEO as His Love Scandal Erases More Than $1 Billion in Value. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
