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Nvidia's leadership has urged employees to remain focussed on the company's future and its role in powering the AI revolution, following the exit of its co-founder and CEO Jensen Huang on Thursday amid the Chinese 'spy' affair scandal.
The 63-year-old's exit came amid scrutiny over his two alleged affairs. One involved Alice Huang, a woman suspected by US authorities of having links to Chinese intelligence. The second allegedly involved Kimberly Powell, Nvidia's vice president of healthcare, who was said to report directly to Jensen Huang.
In an internal email to its employees, Nvidia's newly appointed interim CEO Colette Kress acknowledged that the company was going through an “extraordinarily difficult period” and thanked staff for their resilience, professionalism and continued dedication.
“I believe deeply in this company and in its future. 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,” Kress wrote.
She said the company's achievements were the result of employees' collective efforts and described them as Nvidia's “greatest strength”.
Kress also urged employees to look ahead, saying the company had important work to do in developing technology powering the AI revolution. “So let's move forward together, with the same determination and commitment that have always defined this company,” she said.
The email also announced a company-wide meeting scheduled for November 18 at 9 am Pacific Time, where employees are expected to hear more from the leadership about the company's future.
BOARD EXPRESSES CONFIDENCE IN INTERIM CEO
In a separate email to employees, Harvey Jones, who was appointed Nvidia's first-ever board chair, announced that Jensen Huang had resigned as CEO and board member, and that Kress would take over as interim CEO while the board searches for a permanent successor.
Jones said the search would consider both internal and external candidates. He also announced that he would serve as the company's first-ever chair of the board.
Praising Kress's experience, Jones described her as a key architect of Nvidia's growth and capital strategy. "She has served as the company's chief financial officer for more than 13 years and has a deep understanding of its business and markets," he said.
“The Board has full confidence in Colette to deliver on our commitments to shareholders, customers, partners, and to each of you,” Jones wrote.
He also highlighted Nvidia's contribution to the technology industry, saying the company had pioneered accelerated computing, helped define the modern graphics processing unit (GPU) and built the platform powering AI.
Jones said the company's strength lay in its employees, leadership team, technical capabilities and partner ecosystem, expressing confidence that it would continue to grow under Kress's leadership.
JENSEN HUANG'S EXIT AND THE CONTROVERSY
The leadership shake-up came amid allegations surrounding Huang's affairs and a board investigation into the matter. The allegations include a relationship with a woman suspected by US authorities of having links to Chinese intelligence, as well as a second affair involving Kimberly Powell, Nvidia's vice president of healthcare.
The claims have not been independently established.
Jensen Huang co-founded Nvidia in 1993 and has been central to its rise as one of the world's most influential technology companies. The reported developments have also drawn attention to the company's leadership succession and its ability to maintain momentum in the rapidly expanding AI industry.
Jensen Huang will leave the company's board as well. He owns about 3.61 per cent of Nvidia, making him its fourth-largest investor, according to news agency Reuters.
The leadership change triggered a sharp sell-off in Nvidia shares. The stock fell 10.3 per cent in premarket trading on Thursday, putting the company's market value on course to slip below USD 4 trillion for the first time since July 2025.
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