The US tech industry is facing one of its sharpest leadership upheavals in recent years: Jensen Huang, who has led Nvidia for 33 years, has stepped down as CEO of the company. According to RBC-Ukraine, the resignation was the culmination of a high-profile espionage scandal involving his extramarital affairs. Amid the leadership crisis, US President Donald Trump took to his social network Truth Social to name an unexpected candidate for the vacant seat — former Apple chief Tim Cook, adding that "a legend is replacing a legend."

A Industry Shock: A 33-Year Reign Ends

The sudden departure of 63-year-old Huang, who steered Nvidia from its inception into one of the key players in the global semiconductor market, came as a genuine shock to the industry. Chief Financial Officer Colette Kress has assumed the duties of interim head of the company. The industry is now actively discussing two questions: who will become the permanent CEO of Nvidia, and how this escalating scandal might impact the national security of the United States.

Espionage Scandal: Ties to Suspected PRC Agent

The resignation was preceded by a series of investigative reports that gained momentum in late October. According to reports, US officials established that Huang had a close relationship with Chinese citizen Alice Huang (not related, according to the publication), a top manager at Singapore-based company Megaspeed. US intelligence services consider her an agent of China's Ministry of State Security. Over the past two years, Megaspeed purchased $4.8 billion worth of Nvidia chips, while a Chinese firm linked to Alice's family, Shanghai Century Litong, helped acquire equipment — including restricted items — worth $7.5 billion, according to the investigation.

Three Affairs and Falling Stock

On November 11, The New York Times reported on the executive's second extramarital affair — with Nvidia's Vice President of Healthcare Kimberley Powell, who reported directly to him. Shortly after the resignation was announced, media agency Reuters reported that the company's founder had yet another, third affair with another Nvidia employee whose name has not yet been disclosed. Efforts to save his reputation proved futile: as early as November 8, Huang published an open letter to employees publicly admitting to infidelity to his wife of 40 years and promising to cooperate with an independent board investigation. At the time, Trump even supported the businessman, calling him a "wonderful guy," but following publications about relationships with subordinates, Nvidia shares fell 8 percent in after-hours trading, and the board accepted his resignation.

Trump Proposes Tim Cook

Against the backdrop of news regarding the Nvidia founder's resignation, the US president floated the idea that former Apple director Tim Cook should become the company's new leader. On Truth Social, he wrote that only one person is capable of replacing Huang. Cook himself stepped down as Apple CEO on September 1, 2026, after 15 years at the helm, transitioning to the role of executive chairman of the board, where, according to the publication, he continues to handle international relations, including with China.

What Next: Congressional Hearings

Jensen Huang now faces official scrutiny in Washington. Reports indicate he has already agreed to testify before the US Congress by Thanksgiving — November 26. The closed-door hearings are expected to address potential threats to US national security and the risks of leaking advanced AI technologies to China.