Nov 12 (Reuters) - Nvidia said on Thursday that CEO Jensen Huang was stepping down, leaving the AI industry without its biggest champion and clouding the future of the chipmaker he built into an AI powerhouse.
A controversy surrounding Huang and the chipmaker's China business has spiraled into a national-security and political storm, drawing scrutiny from lawmakers, the company's board and investors.
The fallout has also intensified a long-running debate in Washington over whether the US should allow
its most advanced AI chips to be sold to China. Here is a timeline of key developments:
Date Event
March 2023 7Road International changes
its name to Megaspeed
International as it expands
its cloud-computing business
focused on AI
infrastructure.
June 2024 Jensen Huang and Alice
Huang, a business executive
later linked to Megaspeed,
are photographed together
during the Computex
conference in Taiwan. They
are not related.
May 2025 Video footage reviewed by
Reuters shows them attending
a private dinner in Taipei.
October 2025 The New York Times reports
that Alice Huang and Jensen
Huang were seen socializing
together, marking the first
public link connecting the
two.
Report also says federal
investigators are examining
Megaspeed's activities and
potential exports of
advanced chips to China.
December 2025 President Donald Trump says
the US will allow shipments
of Nvidia's H200 AI chips to
China after reaching an
agreement with the
chipmaker.
Spring 2026 Secretary of State Marco
Rubio oversees the drafting
of a classified memo warning
senior Trump administration
officials that Jensen Huang
was in a close relationship
with Alice Huang, the New
York Times reports in
November
May 13 Trump adds Jensen Huang at
the last minute to a US
delegation visiting China
shortly before a two-day
summit in Beijing.
September 14 Jensen Huang takes Trump's
phone call during a live
taping of the annual All-In
summit. The two speak
against proposals to slow AI
development and discuss US
leadership in AI.
October 8 Trump awards Jensen Huang
the National Medal of
Science
October 29 The New York Times reports
that US intelligence
officials were concerned
Alice Huang was acting on
behalf of Chinese
intelligence and had a close
relationship with Jensen
Huang. Nvidia says the
relationship is not
"unusual."
November 5 Top Republican lawmakers in
the US House of
Representatives seek a
closed-door briefing on
November 18 from Jensen
Huang on the allegations.
November 8 Jensen Huang tells Nvidia
employees he has been
unfaithful to his wife,
without disclosing details
of the relationship.Nvidia
board launches an
independent investigation
into reports the CEO was
targeted by a foreign
intelligence effort.
November 9 US House of Representatives
Democratic leader Hakeem
Jeffries calls for the House
to pass an annual defense
bill that includes
restrictions on chip sales
to China.
Nvidia and Jensen Huang are
sued in a proposed class
action accusing them of
defrauding shareholders by
concealing Huang's ties with
a suspected Chinese spy.
November 10 Jensen Huang's affair
facilitated the shipment of
at least $7.5 billion worth
of the company's chips to
Chinese firms, The
Information reports.Nvidia
board retains Wachtell
Lipton partner and former
acting US Attorney of the
Southern District of New
York, Joon Kim, whose
practice includes internal
investigations and
white-collar defense, to
lead the probe.Republican US
Senator Kevin Cramer calls
for Jensen Huang's
resignation, and Senate
Democratic Leader Chuck
Schumer calls on Congress to
pass the AI Overwatch Act,
which would give Congress
power over advanced chip
exports.
November 11 The CEO also had an
extramarital affair with
Kimberly Powell, Nvidia's
vice president of
healthcare, who reported to
him, NYT reports. Nvidia
board met to decide whether
to oust Jensen Huang,
Reuters reports, citing a
source familiar with the
matter.
November 12 Nvidia says Jensen Huang has
resigned as president, chief
executive officer, and a
member of the board,
effective immediately.
Chief Financial Officer
Colette Kress will take over
as interim CEO.
(Reporting by Prathik Jayaprakash and Anhata Rooprai in Bengaluru; Editing by Sahal Muhammed)
