Zoe Kleinman: Nvidia CEO's affair will cause ripples across US and beyond
Jensen Huang is being investigated by his own company over an extramarital affair with a woman alleged to be a Chinese spy.
Nvidia's shares experienced a significant decline following an investigation into the affair of its CEO, Jensen Huang, with an alleged Chinese spy. The tech giant's shares dropped about 4% after Huang admitted to an extramarital affair. The probe was initiated in response to reports that China had targeted Huang in an espionage campaign, although China refuted these allegations as groundless.
Nvidia's board stated they had no reason to believe the company's secrets or national security were compromised. However, the incident sparked a sell-off in Nvidia's shares, with around $250 billion wiped off the company's market value. Despite the setback, analysts suggested the impact would be short-lived as Nvidia is crucial to the AI industry.
Huang, who co-founded Nvidia in 1993, is vulnerable to removal from the company as he owns a small percentage of shares and Nvidia operates on a single-class voting structure. The investigation has raised concerns about the potential impact on Nvidia if Huang were to be removed, although the board is unlikely to take such a drastic step unless there is significant evidence of wrongdoing.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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