Nvidia's board named Colette Kress, the company's CFO, as interim CEO. Harvey C. Jones becomes the company's first-ever Chair of the Board.
Nvidia's shares fell as much as 13 to 15 per cent at the open. Its value dropped below $4 trillion for the first time since July last year.
That's everything we know.
Why this mattersSo who is Jensen Huang? He's 63. He co-founded Nvidia back in 1993 and ran it for 33 years.
He turned it from a graphics chip company into the company at the centre of the entire AI boom. He's one of the most famous names in American tech. And he'd become closely tied to Donald Trump's whole plan to keep America ahead of China on AI chips.
So here's how this unfolded. Four days ago, Huang told Nvidia staff in an internal message that he'd been unfaithful to his wife and that he was sorry.
Two days ago, the New York Times reported a second affair. This one was with Kimberly Powell, Nvidia's vice president of healthcare. She reported directly to him. Nvidia's board met that same night.
And then, hours after the resignation went public today, Reuters reported a third relationship. Another Nvidia employee. Unnamed.
But here's what turns this from a personal scandal into a national security story.
One of the women, Alice Huang, used to work at a Singapore firm called Megaspeed. She is not related to Jensen Huang. US intelligence suspects she's a Chinese intelligence asset.
A US official says Marco Rubio, the Secretary of State, circulated a memo as early as this spring laying out intelligence that Huang was involved with a Chinese intelligence asset.
Donald Trump says Huang told him he had quote "absolutely no idea" he was involved with an intelligence operative.
So has anyone actually proven she's a spy? No. Todd Blanche, the US Attorney General, said today the Justice Department has not reached a conclusion on that. China's government has denied the whole thing, calling it a baseless smear.
And there's more riding on this than one relationship. Megaspeed is Nvidia's main business partner across Southeast Asia. It's under investigation over whether it helped Chinese companies get hold of $4.8 billion worth of Nvidia chips. US investigators say Alice Huang was able to get access to 240,000 Nvidia chips that are banned from export to China.
Congress is already moving. Brian Mast, who chairs the House Foreign Affairs Committee, says Huang has agreed to testify. Nvidia is also facing a shareholder lawsuit over the scandal.
Colette Kress says Nvidia is committed to quote "building on the extraordinary foundation Jensen created over the last 33 years". She's taking over five days before Nvidia's next earnings report, with no permanent CEO yet in place.
So what don't we know? Whether Huang knew about any intelligence ties when the relationship started. Whether the Justice Department ever reaches a formal conclusion on Alice Huang. And whether this turns into a wider investigation into Nvidia's export compliance.
Right now there's no conclusion. Just a suspicion that reaches all the way up to the Secretary of State's desk.
