The future of Nvidia, the AI industry and even the economy itself are all massive unknowns after CEO Jensen Huang was shown the door today.

• It's impossible to overstate Huang's importance to the company or the AI world more broadly, Axios' Madison Mills writes.

Huang's resignation follows revelations about two extramarital relationships.

• The N.Y. Times reported yesterday that Huang had a relationship with senior Nvidia executive Kimberly Powell.

🔎 Nvidia's board was already investigating his relationship with Alice Huang, a businesswoman identified by U.S. intelligence as a Chinese intelligence asset.

• Alice Huang's company, Megaspeed, is accused of violating export controls on advanced tech by illegally diverting U.S. computer chips to China.

This will likely go down as one of the biggest executive scandals in history, reaching well beyond Nvidia itself.

• Nvidia and its chips fuel much of today's AI boom. Any turmoil there could have far-reaching economic consequences.

🏛️ Lawmakers also want to know what the Trump administration did or didn't do in response to prior intelligence about Huang's relationship with the alleged spy.

• They're targeting Commerce Secretary Howard Lutnick, who oversees export control policy.

Axios first reported that Lutnick was sent intel about the spy relationship and repeatedly did not take export control action, despite pressure from the broader administration and President Trump himself.

• Lutnick maintains Trump's support, Axios' Maria Curi reports.

Nvidia's massive size makes it one of the largest holdings in major index funds, meaning Huang's departure has huge implications for every American with a retirement account.

• The company's stock is down about 5% from yesterday as of midafternoon, but has been falling for weeks.

👩‍💼 What's next: Nvidia's board named longtime CFO Colette Kress as interim CEO.

• Kress told staffers today: "I believe deeply in this company and in its future. More than anything, I believe in each of you, in our customers and partners and in the vital role we play every day in the global economy."

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A gunman killed one person and hurt four others in one of Washington, D.C.'s busiest neighborhoods today before fatally shooting himself, Axios D.C.'s Anna Spiegel reports.

The assailant first killed one person inside VIDA Fitness, a popular gym in the Logan Circle area.

He then fled the scene, shot four others, and barricaded himself in his own nearby apartment building.

• He later shot and killed himself.

The gunman was identified as a medical doctor locked in a dispute with building management over mold and moisture problems in his seventh-floor unit, AP reports.

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1. ⛑️ Emergency crews are still searching for survivors after a three-story building in Brooklyn's Flatbush neighborhood collapsed yesterday. At least eight people were killed, including two children. Get the latest.
2. 🇺🇦 The Ukrainian government wants the Pentagon and SpaceX to explain new restrictions it says are disrupting the satellites it uses to intercept Russian drones. More from Barak Ravid and Thomas Novelly.
3. 🇮🇷 President Trump directed Vice President Vance to turn his "complete and total attention" toward alleged corruption in Democratic-run cities and states, contending that we "don't need a deal with Iran." Go deeper.

The historic SS United States now rests underwater about 22 nautical miles southwest of Destin-Fort Walton Beach in the Florida Panhandle, Axios Philadelphia's Mike D'Onofrio reports.

• Last night's controlled sinking stretched on for hours, ending around 10 p.m. when the ship fully disappeared into the water. (Watch a video.)

🚢 So ends the vessel's strange odyssey from the country's largest ocean liner to a Philly landmark to the world's largest artificial reef and scuba site.

• Plans to turn the ship into a hotel, restaurant or casino were all torpedoed by colossal costs.

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