Nvidia CEO Jensen Huang’s bravado had evaporated this week by the time it became clear his scandalous affairs including one with an alleged Chinese spy would cost him his job — and he chastised himself as a “piece of s–t,” according to reports.
On Wednesday, in his final hours in charge of the chipmaker he had grown into a $4 trillion giant, Huang had started using phrases like “whatever” and “I don’t care,” and calling himself a “piece of s–t,” Bloomberg reported, citing unnamed sources.
It was a quick fall from grace for the billionaire and face of the AI boom, who had repeatedly denied that his relationship with Alice Huang – an executive at Singapore-based Megaspeed, who’s of no relation – was anything but an ordinary business relationship.
After news outlets reported that the relationship with the suspected Chinese spy was a romantic one, Tim Teter, Nvidia’s general counsel, rushed to Huang’s house to confront him and Huang confessed, according to Bloomberg and The Information.
The board was reportedly wary of taking action, but Teter urged them to make an announcement.
On Wednesday, the New York Times reported that Huang had a second affair with Kimberly Powell, Nvidia’s vice president of health care.
The board gathered for an emergency late-night meeting, and Huang was forced to resign, according to reports.
On Thursday, Reuters reported that Huang had a third affair — with yet another Nvidia employee, who remains unidentified.
The Information reported the same day that Huang has hired Paul Weiss, a major law firm.
Huang has claimed not to care about what happens to himself, and that his main concern is his wife and not “ruining the lives” of the multiple women now linked to him, according to the Information.
Just months ago, business was booming for Nvidia. The stock hit an all-time high in October and Huang’s personal fortune surpassed $200 billion, according to Forbes.
Huang had cultivated a close relationship with President Trump and was seen as somewhat of a celebrity in his native Taiwan.
Trouble started brewing in late October, when the New York Times reported that Huang had been the target of a Chinese spy plot involving Alice Huang.
Days later, the Financial Times revealed that a secret, months-old government memo had found the relationship was a romantic one.
On Sunday, Nvidia’s board announced it would investigate the reports.
It hired Wachtell, Lipton, Rosen & Katz – the law firm that previously probed sexual harassment allegations against former Gov. Andrew Cuomo – to lead the investigation.
That same day, Huang sent an email blast to the entire company admitting to the affair and apologizing to shareholders and business partners.
He also apologized to his family.
Huang has been married to his wife Lori for over 40 years, and his two children and son-in-law work at Nvidia.
Behind closed doors, Huang assured Nvidia’s senior executives that the affair with Alice was his only instance of marital infidelity, according to Bloomberg.
But reports later identified two more affairs with two executives at Nvidia.
Huang – who co-founded Nvidia 33 years ago – managed 60 direct reports, had a hand in day-to-day operations and managed decisions as small as the compensation of junior employees, according to reports.
He typically responded to emails immediately at all times of day and night – but his responses had slowed, according to Bloomberg.
His close hold on the company is part of the reason investors panicked that the firm might not survive without him – causing the stock to shed over $450 billion in market value.
The ousted Nvidia boss hasn’t been without defenders.
Trump has repeatedly praised Huang since news of the first affair.
Most recently, Trump told Stephen A. Smith on Thursday that Huang should only step down if Alice was truly a Chinese spy, and that Huang is “going through hell” and “feels most badly [about] his wife and family.”
In the meantime, Huang is gearing up to testify before Congress.
He’s agreed to speak with the chairs of House committees on China, foreign affairs and intelligence in a joint, closed-door meeting before Congress breaks for the Thanksgiving holiday next Friday.
