An update to my post on the report that China’s spy agency recruited a businesswoman to target Jensen Huang. Huang has now resigned as Nvidia’s CEO, The Register reports.
What’s new
- Nvidia’s SEC Form 8-K says the board accepted his resignation Nov. 11, effective immediately.
- CFO Colette Kress is interim CEO while the board searches for a replacement.
- It follows a board investigation after Huang admitted to an affair, amid allegations about Alice Huang of Megaspeed, the woman U.S. intelligence suspected of working for Beijing. The New York Times also reported a second relationship with an Nvidia executive. Beijing denies the spying claims.
- Huang founded Nvidia in 1993 and led it to a peak value above $5.5 trillion this year.
My take
He built the company that sells the shovels for the whole AI gold rush. He lost it over trust, and over who got close to him. The chips will keep shipping, but expect a lot of hard questions about export controls on next week’s earnings call.
God Bless, and Use the Source!
