Jensen Huang has resigned as the chief executive officer of Nvidia following reports that he engaged in a second extramarital affair with a company executive.

The co-founder of the computer chip maker, currently one of the world’s most valuable enterprises, valued at , stepped down after a tumultuous week marked by severe market turbulence and intense corporate governance pressure.

The crisis initially erupted when Huang admitted to an earlier extramarital relationship with a woman whom US media and intelligence sources identified as an alleged Chinese spy.

Pressure on the company intensified further when reports emerged detailing a second relationship with an Nvidia employee reporting directly to him. Nvidia’s board of directors convened to weigh the CEO’s future as market sentiment deteriorated rapidly.

The cascading scandals triggered an immediate financial fallout. Nvidia shares fell by more than 8% in overnight trading, extending a brutal multi-day market rout that has wiped out over $600 billion in value since Huang admitted to the initial allegations over the weekend.

Huang’s abrupt departure leaves a at the helm of the artificial intelligence hardware giant just days before the company is scheduled to report its quarterly financial results and outlook on November 17.

The statement from Nvidia’s board, announcing the resignation, praised Huang’s work at the helm of the company.

“Jensen’s contributions to Nvidia are profound”, it says

“Nvidia is one of the most consequential technology companies in the world,” it says, adding the board and company “thank Jensen for his immeasurable contributions to the company and the industry”.

“We will continue advancing the work that has made Nvidia a leader in accelerated computing and AI, and execute on the opportunities ahead,” the interim CEO Colette Kress says.

“Our focus remains on serving our customers, partners, developers and shareholders.”

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