CNBC's Jim Cramer criticized former Nvidia CEO Jensen Huang on Thursday for putting the chipmaker's future at risk.
"Did he betray you, the shareholders?" Cramer asked. "Yes. End of story."
Huang resigned Thursday morning following reports of an affair with an Nvidia executive who reported to him. Hours later, Reuters reported that he had an "intimate relationship" with a second employee. These revelations came days after Huang admitted to an affair with an executive at a Singapore-based cloud computing company whom U.S. intelligence agencies suspect of spying for China. Longtime CFO Colette Kress was named interim CEO of Nvidia. Cramer said Huang's departure was necessary to protect Nvidia from further fallout.
Shares ended Thursday down more than 4%, but at its lows of the morning, the stock was off over 14%. The decline in Thursday's session brings Nvidia's losses this year to 12%.
While questions remain about what comes next for the AI chipmaker, Cramer argued that Nvidia's future extends beyond the executive who helped build it into one of the world's most valuable companies. "There won't be a better Nvidia, just a different one [without Huang]," Cramer said, envisioning a company that is better organized and more disciplined about its investments.