Jensen Huang resigns as Nvidia CEO after reports reveal his extramarital affair with alleged Chinese spy

Jensen Huang, chairman and CEO of Nvidia, submitted his resignation on Thursday after it was revealed that he had an extramarital affair with Alice Huang, a woman accused of working as a spy for China's communist regime.

It was also reported that he allegedly had another romantic affair with Kimberly Powell, one of Nvidia's top executives.

The company's board announced in a statement that Huang, who had led the company for more than three decades, stepped down from his positions as chairman, CEO and board member effective immediately.

The company did not specify the reasons that led Jensen Huang to submit his resignation on Thursday.

CFO Colette Kress will serve as interim CEO while continuing in her finance role, and the board will evaluate internal and external candidates for a permanent replacement, according to AFP.

Nvidia stock plummets

These scandals led to a sharp drop in Nvidia's stock price, and Huang's departure—he has been a key driver of the artificial intelligence boom—leaves the company without its founding leader at a crucial moment for the industry.

Nvidia shares fell more than 10% in pre-market trading on Thursday following the announcement. The stock price had already had fallen about 25% from its all-time high reached in early October.