AMD shares rose 4%+ after hours after closing up 7.3%, while Broadcom gained 2.4% after hours following a 4% gain, as Nvidia's board weighs ousting CEO Huang (Financial Times)
Stock sinks almost 9 per cent in after-market trading as chief executive's fate hangs in balance following more revelations.
Nvidia shares fell more than 8 percent at one point during US after-hours trading on Wednesday, erasing a 2.9 percent rebound from the regular session. SCMP Tech reports that Nvidia's board was preparing to decide the future of CEO Jensen Huang, with a meeting potentially occurring as soon as Wednesday. The share price drop follows reports of a second extramarital affair; Sky News Tech notes the stock has fallen to a 52-week low following claims of a second affair, while SCMP Tech states The New York Times reported an extramarital relationship between Huang and Kimberly Powell, Nvidia’s vice-president of healthcare.
The selloff in Nvidia shares weighed on the Nasdaq-100 and dragged down other chip makers, according to MarketWatch. During after-hours trading, AMD shares rose more than 4 percent after closing up 7.3 percent, while Broadcom gained 2.4 percent following a 4 percent gain, according to Techmeme.
Brief written by urgent.news from Techmeme, MarketWatch, SCMP Tech, Sky News Tech — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.
