Daniel Wolfram
Nvidia’s shares dropped 10% in the minutes following Jensen Huang’s resignation.
Jensen Huang is out as CEO of the AI chip company Nvidia. This resignation comes after Nvidia’s board spent all last night convening to discuss firing the embattled CEO.
Nvidia says Jensen Huang has resigned as president and CEO effective immediately, and that Chief Financial Officer Colette Kress has been appointed as interim CEO while keeping her existing roles.
A change was imminent after Nvidia’s stock dropped significantly over the last few weeks following the reports about Huang’s extramarital affairs.
Trump kept defending Huang
Huang was fighting to keep his job until the very end, and he had a very powerful ally.
Donald Trump had repeatedly defended him and called him “an honorable guy.” He even believed him when Huang called Trump and said he had no idea that his Chinese mistress was a spy.
“He’s done an amazing job for our country,” Trump said a couple of days ago, adding that he “really believes him.”
In the end, the board did not believe him, and Huang’s resignation was most likely forced.
Statement by Nvidia
A statement has just been released by Nvidia.
Here it thanks Jensen Huang for his work. “Jensen’s contributions to Nvidia are profound,” the statement says.
“Nvidia is one of the most consequential technology companies in the world,” the statement also says, adding the board and company “thank Jensen for his immeasurable contributions to the company and the industry.”
