Jensen Huang is no longer CEO of NVIDIA. 

On Thursday, NVIDIA's board of directors said that Huang had resigned his position as president and chief executive of the company, effective immediately. Huang also gave up his board seat. NVIDIA named Colette Kress, the company's current executive vice president and chief financial officer, as interim CEO.   

"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," NVIDIA said. "The Board is initiating a search for a permanent Chief Executive Officer and will consider internal and external candidates."

As part of the shakeup, NVIDIA also appointed its first-ever chair of the board in Harvey Jones, who previously served as CEO and executive chairman of electronic design automation company Synopsys. "Colette has helped lead NVIDIA through a period of extraordinary growth and has a deep understanding of our business, customers, operations and financial position," Jones said in a statement. "She is supported by an experienced leadership team that has been instrumental in executing NVIDIA's strategy and advancing its technology roadmap. The Board has full confidence in Colette and the leadership team, and we expect the company's operations, customer commitments and product roadmap to continue without interruption."

Huang's departure comes days after NVIDIA's board said it would investigate Huang after he admitted to having an affair with a former tech executive accused of being a Chinese intelligence asset. The board said at the time it had "no reason to believe that either national security or NVIDIA secrets were compromised." The FBI is also investigating, according to President Donald Trump.

The later reported that Huang had also had an affair with an NVIDIA executive who reported to him, and that the two were seen "being affectionate" at a hotel during a company conference this year. A bystander who reportedly recorded the interaction was offered a nondisclosure agreement by Huang's security detail, according to the report.

Huang's downfall is a stunning turn for the company, which has become a linchpin for the AI industry. He has been CEO since co-founding the company in 1993. Since then, he has transformed NVIDIA from a 3D graphics company to an AI powerhouse worth more than $4 trillion.

As NVIDIA's stock price has exploded in recent years Huang has become an increasingly public face of the AI boom. He often appeared at events — usually wearing his signature black leather jacket — with fellow tech CEOs like Mark Zuckerberg and Satya Nadella. At a time when high profile AI researchers are raising the alarm about superintelligence, Huang has had a much more positive view on the technology. He argued against increased regulation of the industry and has said America should not restrict China's access to US-made chips.

Huang has frequently been seen with President Trump, and was one of several tech leaders to accompany him on a recent trip to China. Asked about recent revelations, the president said he believed Huang was "an honorable guy" and that he "probably has an excuse for it."

In a memo to NVIDIA employees earlier this week in which he apologized for his actions, Huang wrote that leading the company was "the privilege of my life" and that he was "committed to protecting NVIDIA and supporting America's national security." He added that he was "fully committed to NVIDIA" and would "work to earn back your confidence." But the CEO who once seemed untouchable won't get the chance to do so.