Timeline: How Nvidia's Jensen Huang got entangled in a China chip and spy scandal
NVDA•Nvidia said Jensen Huang resigned as president, CEO and a board member, effective immediately. CFO Colette Kress will serve as interim CEO.
1. Resignation follows probe
Nvidia said on November 12 that Jensen Huang had resigned as president, chief executive officer and a member of the board, effective immediately. Chief Financial Officer Colette Kress will take over as interim CEO. The resignation came after Nvidia's board launched an independent investigation into reports that Huang was targeted by a foreign intelligence effort.
2. Scrutiny over China business
The controversy has drawn scrutiny from lawmakers, the board and investors, and intensified debate in Washington over sales of advanced AI chips to China. A proposed class action accused Nvidia and Huang of defrauding shareholders by concealing his ties with a suspected Chinese spy. The Information reportedly said Huang's affair facilitated shipments of at least $7.5 billion worth of Nvidia chips to Chinese firms.
3. Investigations and export debate
Nvidia retained Wachtell Lipton partner Joon Kim to lead its probe. Top House Republicans sought a closed-door briefing from Huang, while Senator Chuck Schumer called for passage of the AI Overwatch Act, which would give Congress power over advanced chip exports.
