Jensen Huang, who is known for his endless energy and signature leather jacket, reportedly became a different person in his final hours before surrendering his position as Nvidia’s [NASDAQ: NVDA] CEO.
According to an exclusive from Bloomberg, Huang had reportedly given up by the end, swapping his typical go-getter attitude for a look of defeat. A person familiar with the situation told Bloomberg Huang even started using phrases like “whatever” and “I don’t care.”
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Huang’s resignation marks a stunning fall for the billionaire who was considered one of the powerhouses of the AI boom just weeks ago. The former CEO resigned after admitting to an extramarital affair with someone who is suspected to be a Chinese spy.
Since admitting to the affair, reports that Huang had two more affairs with Nvidia employees quickly emerged. People who’ve spoken with him in recent days told Bloomberg Huang has become more remorseful and reportedly called himself a “piece of s—.”
Huang’s resignation
Nvidia’s former CEO announced his resignation on Nov. 12 after facing growing calls to step down.
Reports of Huang’s connection to an alleged Chinese spy first emerged in October, following an exclusive from the New York Times that claimed he had a close relationship with a woman who was providing intelligence to Beijing. It was also alleged the woman, named Alice Huang (no relation), was helping smuggle advanced AI chips to China.
In a note to staff on Nov. 8, Huang admitted to having an affair but did not name the woman involved. Nvidia subsequently announced it would be launching an investigation into claims that Huang was the “target of a foreign intelligence effort,” though it said it had “no reason to believe that either national security or Nvidia secrets were compromised.”
On Nov. 11, the New York Times reported Huang also allegedly had an affair with Kimberly Powell, Nvidia’s vice president of healthcare. Nvidia’s code of conduct tells employees to avoid any situations that can create conflict, including “personal relationships.”
Huang officially resigned as Nvidia’s CEO the following morning. That same day, Reuters reported the former CEO had an “intimate relationship” with a second Nvidia employee, though she remains unnamed.
Nvidia’s future
Investors are questioning what the future of Nvidia — and the AI boom — will look like without Huang, who co-founded the chipmaker in 1993.
The scandal has already had a stunning impact on the company. Nvidia shares plummeted 14% after the market opened following Huang’s resignation, wiping out roughly $546 billion in market value. The stock did rebound during the day and was down 4.3% when the market closed. As of Nov. 13, the stock was trading at around $160, down 6.3%.
The ongoing scandal has tanked Nvidia’s market valuation by more than $1 trillion.
There could also be political fallout from the scandal. Huang, who had close ties to President Trump, could face political repercussions over the alleged foreign interference. Lawmakers could also target the Trump administration, which has faced allegations that it ignored sales of Nvidia’s chips to China, which is currently banned.
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This article originally appeared on Moneywise.com under the title: Jensen Huang reportedly gave up in final hours as Nvidia CEO — as his affair scandal wipes away more than $1T in value
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