Nvidia CEO Jensen Huang steps down

After more than three decades as NVIDIA's CEO, Jensen Huang is forced to step down. Huang offered his resignation Thursday after reports of undisclosed extramarital affairs harmed the company's reputation and sent shares plunging. NVIDIA Corporation appointed CFO Colette Kress to replace Huang as interim CEO. According to reports, NVIDIA's co-founder had two affairs, but what made headlines is the one with Alice Huang. She's a former executive at Megaspeed, one of NVIDIA's largest clients. Alice Huang is accused of espionage and illegally shipping its high-tech chips to China. Allegations that have shaken NVIDIA. On Thursday, shares plunged 13% at open. Investors' trust is also broken. NVIDIA shareholders filed a class-action lawsuit against him in California, accusing him of failing to disclose information to investors. The market definitely has become more pessimistic in the short run, simply because investors don't really like uncertainties around the AI industry right now, especially when there are different problems like the energy bottleneck and also surrounding whether the industry can be profitable in the short run. On Thursday, China's foreign ministry said that the espionage allegations are American fabrications and it warned Washington to stop using spy narratives as cover for technology restrictions.