In a memo to Nvidia employees, Huang acknowledged an affair and apologized to his family. “I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry,” he wrote.
The report identified the women as Alice Huang, described as an alleged Chinese spy, and Nvidia executive Kimberly Powell. Yahoo! Finance reported that Huang was believed to have worked with a network of Chinese companies that secured $7.5 billion worth of chip sales to China.
Nvidia Executive Vice President and Chief Financial Officer Colette Kress will serve as interim chief executive, according to the board’s announcement. Nvidia shares fell 10% after Huang’s departure was announced.
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