Why Did Nvidia's Chief Executive Resign?

Jason Calacanis says Nvidia's chief executive resigned after 33 years following a New York Times report that Alice Wang, a close associate, was a Chinese Communist Party spy, and a company email admitting an affair. The chief financial officer will serve as interim chief while the board looks for a replacement.

The sequence took six days, from Friday, November 6, to the Thursday, November 12 taping. Nvidia reports earnings next Tuesday. The stock is down 15% in the last week, hundreds of billions of dollars. On November 6, right after the midterms, the New York Times published the spy report. Wang, no relation to the chief, is an executive at Mega Speed, a Singapore company that builds data centers in Asia and rents compute to companies including Alibaba. The relationship helped facilitate 7.5 billion in chips to Chinese companies since 2023. The article was based on a leaked intelligence memo. On Sunday, November 8, a company-wide email admitted an affair and said the board would investigate Wednesday. The New York Times reported a second affair with a direct report, and there are reports of a third.

The story had been public for well over a year. The New York Times first mentioned Wang's relationship in October 2025, 13 months earlier, then ran a follow-up last month headlined NVIDIA chief seen as target of Chinese spy plot. Culper Research, a hedge fund, put a short on Nvidia six months ago.