The company stated that Chief Financial Officer Colette Kress will take over as interim CEO while Nvidia searches for a permanent successor.
Nvidia shares extended their losses following the announcement of Huang's resignation.
The stock was last trading down 10 percent in pre-market trading.
WHAT HAPPENED?
In a statement on November 8, the Nvidia Board of Directors announced that an independent investigation had been launched following reports that Huang was a target of foreign intelligence activities.
Reports published in The New York Times alleged that Alice Huang, a former executive at Megaspeed who was said to have a close relationship with Huang, was operating on behalf of Chinese intelligence and transferring information to the Beijing administration.
In a message sent to his employees, Nvidia CEO Jensen Huang stated that he had not remained faithful to his spouse, adding that he supported the independent investigation initiated by the company's board and would fully cooperate. Huang had stated, "I am committed to protecting Nvidia and supporting the national security of the United States."
Following these developments, Nvidia shares lost 4.27 percent of their value on November 9, closing the day at $178.67.
News Source: 12punto
