Nvidia shares plummet after boss Jensen Huang RESIGNS amid affair with alleged Chinese spy

Jensen Huang, the Nvidia executive embroiled in a cheating scandal with an alleged Chinese spy, has resigned from his roles as President, CEO and board member, the company has announced.

The decision comes amid reports he was involved in a second extramarital affair with Nvidia's vice president of healthcare, Kimberly Powell.

In a statement, the tech giant called Mr Hensen's time at the company as "profound" and thanked him for "immeasurable contributions".

The 63-year-old co-founded the company in 1993 and oversaw a market value rise of around 470 per cent in the last five years due to its influence on the AI industry.

But since Friday, Nvidia's stock has plummeted $500billion (£376billion). Following Mr Huangs resignations, shares have now fallen ten per cent ahead of Thursday's trading (due to kick off 2.30pm GMT).

Valued at $4.2tillion (£3.16trillion), the company is the second most valuable firm behind fellow tech giant Apple.

The firm has also announced Colette Kress, current executive vice president and chief financial officer of Nvidia, will serve as interim chief executive.

Mrs Kress joined the company in September 2013.

"During her tenure, she has led the company’s finance organisation and has played a key role in Nvidia's growth and evolution," the company said.

"Prior to joining Nvidia, Kress spent nearly 25 years in finance roles at leading technology companies, including Cisco and Microsoft."

It's unclear if she will remain as CEO in the long-term.

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