Nvidia

Nvidia CEO Jensen Huang has resigned, capping a spectacular downfall for a poster boy of the artificial intelligence boom. His exit on Thursday followed reports of extramarital affairs, and it thrusts the chipmaker into an uncertain future. The resignation came after a dizzying series of headlines about Huang’s infidelity and ties to an alleged Chinese spy. Huang's departure sets off a scramble to find a permanent replacement to lead the multitrillion-dollar colossus that grew from obscurity to a perch between Apple and Microsoft at the top of the S&P index. Shares of Nvidia plummeted 14% at the opening bell, before stabilizing.

Nvidia CEO Jensen Huang has resigned after his extramarital affair with a Chinese businesswoman who reportedly was also acting as a spy for Beijing raised U.S. national security concerns. The company named Colette Kress as interim CEO. She had been Nvidia's executive vice president and chief financial officer. Nvidia’s board had gathered to discuss Huang’s future after revelations that he was having an affair with a former Megaspeed executive suspected of being a Chinese government agent. Shares of Nvidia, one of the largest companies in the world, fell sharply at the opening bell Thursday.

U.S. futures are higher as Nvidia’s stock makes a bit of a recovery while investors continue to assess how Jensen Huang’s resignation as the company’s CEO might affect the global artificial intelligence industry. Futures for the S&P 500 climbed 0.2% on Friday, while those for the Dow Jones Industrial Average rose 0.1%. Nasdaq futures were up slightly. Shares of Nvidia gained more than 2% before the market open. The departure of Huang, who co-founded Nvidia and has been a key architect of its role at the center of the AI boom, has raised questions about the company’s future. Huang had been the face of Nvidia and was deemed by some in the industry as bigger than Nvidia itself.