Jensen Huang resigns as Nvidia CEO; U.S. Senate Banking Committee says he and Commerce Secretary are expected to testify

Nvidia CEO Jensen Huang resigned on Thursday following reports of multiple relationships, including with Alice Huang, who has been accused of being a Chinese spy, and is expected to appear at a congressional hearing with U.S. Commerce Secretary Lutnick. Nvidia's board departure statement did not mention the scandal, and CFO Colette Kress took over temporarily. Senate Democratic Leader Schumer said Jensen Huang and Nvidia must answer whether U.S. security has been harmed as a result; Senate Banking Committee Chairman Scott has sent a letter demanding that both testify, and said he would consider issuing a subpoena if Jensen Huang does not appear voluntarily; a Lutnick spokesperson said he has agreed to appear voluntarily. House Speaker Johnson said Congress is forming consensus on restricting chip exports to China, and lawmakers are pushing to pass at least four chip export bills. According to Reuters, Chinese AI companies are trying to lock in Nvidia chip capacity outside China, and Beijing is stepping up development of domestic alternatives including Huawei; according to The New York Times, Trump called Jensen Huang two days before his resignation to urge him to keep his position.