Billionaire Nvidia CEO Jensen Huang quits after reports of second affair

Nvidia CEO Jensen Huang has announced his resignation following claims of a second affair.

He had only recently admitted to the first affair, sending a memo to staff telling them he'd been 'unfaithful to my wife', and now he's on his way out of the company.

According to the New York Times, the Nvidia co-founder had an affair with Chinese businesswoman Alice Huang (no relation) and she was feeding information back to Beijing.

She is an executive at the Singapore data centre company Megaspeed, which bought more than $4.8 billion (£3.6 billion) of Nvidia chips in the past couple of years.

Reports of a second affair emerged in the NYT, this time allegedly with an Nvidia executive who reported to him, and a meeting was called to discuss his future at the company.

He co-founded Nvidia, now he's resigned following claims of two affairs (Sean Gallup/Getty Images)

Now they've released an announcement saying that the 63-year-old has resigned from Nvidia, they thanked him for his 'immeasurable contributions' and would now be looking for a replacement.

They said in a statement: "Nvidia Board of Directors announced today that Jensen Huang has resigned as President, Chief Executive Officer, and a member of the Board, effective immediately.

"Colette Kress, current Executive Vice President and Chief Financial Officer of Nvidia, has agreed to serve as Interim Chief Executive Officer.

"Kress will continue to serve as Executive Vice President and Chief Financial Officer while serving as Interim Chief Executive Officer until a permanent successor has been named. The Board is initiating a search for a permanent Chief Executive Officer and will consider internal and external candidates."

Kress said she would be building on 'the extraordinary foundation Jensen created over the last 33 years'.

The company added: "Jensen’s contributions to Nvidia are profound.

"Nvidia is one of the most consequential technology companies in the world. The Board and the company thank Jensen for his immeasurable contributions to the company and the industry."

Jensen Huang and his wife Lori, who he has admitted to cheating on (LISA O'CONNOR / AFP via Getty Images)

Huang has been married to his wife Lori for 41 years and they have two children together.

In his statement following claims of his first affair he had said: "My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry.

"Regarding the national security concerns raised in news reports, Nvidia's Board of Directors has initiated an independent investigation. I support the investigation and will cooperate fully.

"I love our country and our company. I am committed to protecting Nvidia and supporting America's national security. I am proud and grateful to be an American."

Nvidia stock has dropped significantly following reports of the affairs, and his resignation triggered another 10 percent drop in the value.