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NVIDIA replaces CEO amid China AI and robotics concerns

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NVIDIA replaces CEO amid China AI and robotics concerns

NVIDIA says it will continue to support customers amid its leadership changes. Source: NVIDIA

After a tumultuous week that saw NVIDIA Corp.’s stock drop by about 18.5%, CEO Jensen Huang has stepped down. The company today said it has appointed Collette Kress, executive vice president and chief financial officer, as interim CEO and investor Harvey C. Jones as its first board chair.

Huang, who is one of the most recognizable figures in AI, recently admitted to extramarital affairs including with Alice Huang (no relation), an executive at Megaspeed who is suspected of being a Chinese spy, and Kimberly Powell, vice president of healthcare at NVIDIA.

“To my colleagues at NVIDIA, including those I have worked alongside for decades, and to our board, partners, and shareholders around the world: you deserve better from me,” Jensen Huang wrote in a statement on Nov. 8. “Regarding the national security concerns raised in news reports, NVIDIA’s board of directors has initiated an independent investigation. I support the investigation and will cooperate fully.”

Huang co-founded NVIDIA in 1993, and it makes graphics processing units (GPUs) and software architectures that are the basis for much of advanced computing and AI today. The Santa Clara, Calif.-based company has a market capitalization of about $4 trillion, and its simulation and other technologies are used in industrial manipulators, autonomous mobile robots (AMRs), and emerging humanoid robots.

Kress has served as EVP and CFO of NVIDIA since joining the company in September 2013. NVIDIA said that she has played a key role in its growth and evolution.


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