Nvidia chief Jensen Huang steps down as Congress pushes for tighter chip export curbs on China
Jensen Huang resigned as CEO of US chipmaker Nvidia after reports of a relationship with a woman US authorities suspect of spying for China. House Speaker Mike Johnson says a consensus is growing in Congress to limit chip exports to China.
Nvidia, the US chipmaker whose advanced AI chips are widely used to build cutting-edge artificial intelligence models, lost its chief executive on Thursday. Co-founder Jensen Huang resigned after reports of extramarital affairs, and the scandal has intensified calls in Washington to restrict China's access to advanced chips.
Why he resigned
Huang left after reports of a relationship with businesswoman Alice Huang, whom US authorities suspect of spying for the Chinese government. Reuters later reported a relationship with a second Nvidia employee; another report named Kimberly Powell, Nvidia's vice-president of health care, who has been approached for comment. On Sunday Huang admitted he had been unfaithful to his wife, Lori, without naming anyone. He denies knowing that Alice Huang allegedly worked for the Chinese government.
The board's statement did not mention the spying scandal, instead noting Huang's contributions. He resigned as chief executive, president and board member. Chief financial officer Colette Kress will serve as interim CEO until a successor is named. Nvidia shares fell 14% at the open on Wall Street but finished more than 4% lower.
Investigation and political reaction
US attorney general Todd Blanche said the Justice Department has not reached a conclusion on whether Alice Huang was a Chinese spy, though the FBI is investigating. Beijing denies it. President Donald Trump said it has not yet been determined whether she was a spy.
House Speaker Mike Johnson told reporters there is a developing consensus in Congress on limiting chip exports to China. A Senate aide told Reuters that Republicans want to add new restrictions to the annual defence authorisation bill. House foreign affairs chair Brian Mast said a date for Huang's congressional testimony is being arranged, expected within the next fortnight.
Succession
Trump urged on social media that Apple's former chief executive Tim Cook replace Huang. Nvidia's board says it will consider internal and external candidates; Arm Holdings chief Rene Haas and AMD chief Lisa Su have also been mentioned.
