Nvidia CEO stands down after reported affair with alleged Chinese spy

The CEO of Nvidia, Jensen Huang, has stepped down from his role at the tech company after he admitted to having an extramarital affair in an email to employees.

Although Huang did not name the woman involved in the email, it is alleged the affair was with businesswoman Alice Huang, who is suspected to be linked to Chinese intelligence. The New York Times has since reported that he had a second affair with an employee.  

The company announced on Sunday that it had opened an investigation into Huang after he sent the email to employees.

Since the news over the weekend, Nvidia shares have plunged 10 per cent in pre-market trading.  

Earlier today, the company's board met to discuss the options over Huang's future ahead of the stock market opening at 14:30 GMT.  

Huang, who co-founded the company in 1993 and led it to become a multi-trillion-dollar company and a leader in computer chip development, will be replaced by Colette Kress, who will take over control of the world's second-largest company on an interim basis.  

In a statement released by the board, following the news of Huang's resignation, it acknowledged the "profound" contributions the former CEO made to the company.  

It said: "Nvidia is one of the most consequential technology companies in the world. The board and the company thank Jensen for his immeasurable contributions to the company and the industry."

Harvey Jones, who has been appointed chair, said: "Colette has helped lead Nvidia through a period of extraordinary growth and has a deep understanding of our business, customers, operations and financial position."  

He added: "She is supported by an experienced leadership team that has been instrumental in executing Nvidia’s strategy and advancing its technology roadmap. The board has full confidence in Colette and the leadership team, and we expect the company’s operations, customer commitments and product roadmap to continue without interruption."