Jensen Huang resigns as Nvidia CEO amid scandal, Elon Musk says hiring him would be an honor
Nvidia announced that Jensen Huang stepped down as president, CEO and board member, effective immediately, after weeks of scrutiny over multiple extramarital affairs and alleged ties to Chinese intelligence. Elon Musk replied to a social‑media prompt with “That would be an honor,” expressing interest in hiring Huang but offering no formal offer or role. Nvidia named CFO Colette Kress as interim CEO while it searches for a permanent replacement. The news sent Nvidia shares down more than 8% and erased over $427 billion in market value, while SpaceX stock rose about 3‑4% on the speculation.
Why it matters
The resignation creates uncertainty about Nvidia’s leadership and could affect its AI‑chip business, which many investors watch closely. The share price drop and market‑cap loss directly reduce shareholder value, while the speculation around a possible Musk‑Huang partnership has temporarily boosted SpaceX’s stock.
Key facts
- 1Nvidia confirmed that Jensen Huang resigned as president, CEO and board member, effective immediately. ibtimes.com.au
- 2Nvidia also confirmed the resignation in a separate filing, appointing CFO Colette Kress as interim CEO. finance.yahoo.com
- 3Elon Musk replied to a ZeroHedge post with the five‑word phrase “That would be an honor.” foxbusiness.com
- 4Nvidia’s shares fell more than 8% after the announcement. ibtimes.com.au
- 5The chipmaker lost over $427 billion in market capitalization during the first two trading sessions following the news. foxbusiness.com
- 6SpaceX shares rose about 3% to 4% on the same day. ibtimes.com.au
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.