Nvidia's Jensen Huang resigns; Colette Kress named interim CEO.

Nvidia chief executive Jensen Huang said he will step down on Wednesday after the board opened an investigation into alleged extramarital affairs, and Senate Democrat Chris Van Hollen announced he will challenge Senate Majority Leader Chuck Schumer for the top Democratic post. Co‑founder and chief financial officer Colette Kress was named interim CEO, while Van Hollen, a 67‑year‑old from Maryland, filed his candidacy ahead of the next congressional session.

Huang’s resignation comes after reports that he had an affair with a client who U.S. intelligence believes was recruited by China’s spy agency. The board launched the probe after the allegations surfaced, and Huang sent an email to staff admitting to cheating on his wife and pledging cooperation. The scandal hits Nvidia at a time when the chipmaker is riding a wave of demand for AI hardware, and its shares fell sharply after the news broke. In Washington, Van Hollen’s bid reflects growing pressure from progressive Democrats to replace Schumer, who has led the Senate since 2017 but faced criticism for his handling of the Trump administration and the 2025 funding dispute over Ukraine aid. Van Hollen, who entered the Senate in 2016 after a decade in the House, gained national attention last year for lobbying the release of a wrongfully deported U.S. citizen.

Analysts say Nvidia’s market value could be tested as investors watch how quickly Kress can steady the company and reassure partners about security concerns. The stock slide underscores how quickly executive turmoil can affect a tech giant’s valuation. In the Senate, Van Hollen’s challenge could reshape Democratic leadership if he garners enough support from the party’s progressive wing, which argues that a change is needed after recent midterm gains. Schumer, now 75, has not publicly responded, but insiders expect a heated internal contest.

If Kress proves capable, Nvidia may avoid a prolonged leadership vacuum and keep its AI roadmap on track, a factor that matters for the broader tech ecosystem. Van Hollen’s campaign will likely intensify over the coming weeks, with the outcome influencing how the Senate sets its agenda on issues ranging from climate policy to election reform. Both stories highlight how personal conduct and internal politics can ripple through major institutions, affecting markets and legislation alike.