The company's board said Huang had stepped down as president, chief executive and board member, effective immediately.
Technology shares came under pressure Thursday as Jensen Huang resigned as chief of AI giant Nvidia in the face of a board revolt following revelations he had two extramarital affairs, including with a woman accused of spying for China.
The company's board said Huang had stepped down as president, chief executive and board member, effective immediately.
Chief financial officer Colette Kress will serve as interim CEO while keeping her finance role, and the board will consider internal and external candidates for a permanent replacement.
Shares in Nvidia, which is due to report quarterly earnings next Tuesday, plunged 13 percent at the start of trading in New York.
"A leadership scandal at one of the world's biggest companies is enough to bring the tech stock rally to a halt," said Kathleen Brooks, research director at trading group XTB.
Wall Street's tech-heavy Nasdaq Composite dropped 1.5 percent as trading got underway.
The Philadelphia Semiconductor Index, which tracks the major firms in the AI chip sector, fell 1.8 percent.
Companies linked to the AI sector had enjoyed a healthy bounce in recent days after last week's sell-off sparked by regulatory concerns following the Democratic sweep of the US Congress, as well as worries about whether the…
