Jensen Huang Resigns From Nvidia—Here's Who Could Replace Him

0:00UKG is the workforce operating platform with unified HR, payroll and workforce management. built to solve the unique challenges of frontline work. Powered by People First AI and decades of labor data, UKG turns workforce intelligence into real-time decisions around staffing, pay, compliance, and productivity, enabling every worker to confidently take action as work happens. Because when work works, everything works. Learn more at ukg.com slash work. UKG, HR, pay, and workforce management. Jensen Wang, billionaire and CEO of AI chip giant NVIDIA, resigned his position on Thursday morning after reports of a second affair with an NVIDIA employee days after he admitted to a relationship with another tech executive that intelligence officials believe may have been a Chinese spy.

0:47NVIDIA CFO Colette Kress will serve as interim CEO in his absence until a permanent successor can be named, the board said, adding it is launching a search for his replacement that will include internal and external candidates. The board acknowledged Wong's profound contributions to NVIDIA, which he co-founded more than 30 years ago, and thanked him for his immeasurable contributions to the company and the industry. The resignation comes after reports the board was preparing to oust Wong amid growing scrutiny over his extramarital affairs, including one with an alleged Chinese spy and an alleged second one with Kimberley Powell, NVIDIA's vice president of healthcare, who reported to Wong.

1:26Speculation has already begun on external and internal candidates who could replace the man synonymous with the the AI boom, including CRESS. Now, other internal names that have been floated in the media include Michael Kagan, current chief technology officer who founded supercomputer networking company Mellanox, which was acquired by NVIDIA in 2020, and Jay Puri, former executive vice president of worldwide field operations, who retired in July. Ian Buck, vice president of hyperscale and high-performance computing at NVIDIA, has also been floated, but analysts have noted he lacks broad operational experience.

2:00Externally, the information floated the name Lisa Su, who runs Nvidia's most credible rival, Advanced Micro Devices or AMD, and TechCrunch brought up billionaire and former Google CEO, Eric Schmidt. Other names include Johnny Sruji, Apple's chief hardware officer, and Renee Haas, a former Nvidia executive who is now CEO of British semiconductor and software design company, Arm. Some analysts have also floated the possibility of a co-CEO structure to fill the many roles filled by Wong, which would pair technical and operational or financial leaders. Tesla and SpaceX creator Elon Musk said Wednesday it would be an honor to hire Wong.

2:37He's made several other comments in support of his fellow billionaire since news of the affair broke, including tweeting I agree to a post from Sequoia Capital partner Sean Maguire, who said that while Wong did something incredibly dumb, there was likely no malicious intent and Wong remains irreplaceable for America's AI leadership. Wang is worth an estimated$131.7 billion as of Thursday morning, and he's the 13th richest person in the world. Meanwhile, Nvidia shares dropped 10 % after the opening bell Thursday. Last week, before news of his affair was confirmed, he was worth roughly$155 billion.

3:13The affair admission has sparked speculation that Wang and his wife, Lori, could be headed for divorce after 41 years of marriage, and Lori could walk away with tens of billions of dollars if they do. For more on this story, click the link in the description.

3:53compliance and productivity, enabling every worker to confidently take action as work happens. Because when work works, everything works. Learn more at ukg.com slash work. UKG, HR, pay and workforce management.